STATE OF NEW YORK ________________________________________________________________________ 6233 2025-2026 Regular Sessions IN ASSEMBLY February 27, 2025 ___________ Introduced by M. of A. R. CARROLL -- read once and referred to the Committee on Election Law AN ACT to amend the election law, in relation to political contributions by certain organizations The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision 2 of section 14-116 of the election law, as 2 amended by chapter 4 of the laws of 2019, is amended to read as follows: 3 2. a. Notwithstanding [the provisions of subdivision one of this 4 section, any corporation or an organization financially supported in 5 whole or in part, by such corporation, any limited liability company or 6 other corporate entity may make expenditures, including contributions, 7 not otherwise prohibited by law, for political purposes, in an amount 8 not to exceed five thousand dollars in the aggregate in any calendar 9 year; provided that no public utility shall use revenues received from 10 the rendition of public service within the state for contributions for 11 political purposes unless such cost is charged to the shareholders of 12 such a public service corporation.] any other provision of law to the 13 contrary, no contribution, loan, loan guarantee or other security for 14 such a loan from any corporation, limited liability company, limited 15 liability partnership or partnership, other than in the regular course 16 of the lender's business, may be accepted by a candidate or political 17 committee, other than a corporation, limited liability company, limited 18 liability partnership or partnership that is a political committee, for 19 all nominations to any office or election to any office. 20 b. A loan made to a candidate or political committee, other than a 21 constituted committee, by any person, firm or association shall be 22 repaid by the date of the primary, special or general election, as the 23 case may be, or such loan shall be considered a contribution by such 24 person, firm or association including any person endorsing, cosigning, 25 guaranteeing, collateralizing or other providing security for the loan. 26 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08582-01-5