Bill > A07458

This bill enacts the "Democracy Preservation Act," which prohibits foreign-influenced business entities from making contributions or donations, or spending money on political communications, in connection with state or local elections in New York. The bill defines a "foreign-influenced business entity" as one where a single foreign owner holds 1% or more of the total equity or voting shares, or where two or more foreign owners collectively hold 5% or more. The bill also requires business entities to file a statement of certification with the state board of elections, attesting that they are not foreign-influenced, before making any political expenditures.