Bill > S01126

This bill enacts the "democracy preservation act" and prohibits contributions by "foreign-influenced business entities" to state or local elections in New York, except for independent expenditures made in connection with a ballot proposal election. The bill defines "foreign-influenced business entities" as those where at least 1% of the equity or voting shares are owned by a single foreign owner, or at least 5% are owned by multiple foreign owners, or where a foreign owner participates in the entity's political decision-making. The bill requires business entities making political expenditures or contributions to certify that they are not foreign-influenced, and imposes criminal and civil penalties for violations.