Bill > S08510

This bill amends the New York election law to prohibit candidates or political committees, other than corporations that are political committees, from accepting any contribution, loan, loan guarantee, or other security for a loan from a corporation, except in the regular course of the lender's business. The bill also requires any loan made to a candidate or political committee, other than a constituted committee, to be repaid by the date of the primary, special, or general election, or it will be considered a contribution by the person, firm, or association that provided the loan. The bill exempts independent expenditure committees from these provisions.