NY A01418

Bill

Enacts the "corporate political activity accountability to shareholders act"; requires that corporate contributions to a political candidate or party committee or in support or opposition to a candidate or ballot referendum be approved by a majority of shareholders; applies to cooperative corporations, not-for-profit corporations, railroad and transportation corporations.

Introduced
01/17/2023

In Committee
01/03/2024

Crossed Over

Passed

Dead
12/31/2024

Introduced Session

2023-2024 General Assembly

Bill Summary

AN ACT to amend the business corporation law, the cooperative corporations law, the not-for-profit corporation law, the railroad law, the transportation corporations law, the banking law and the limited liability company law, in relation to enacting the "corporate political activity accountability to shareholders act"

AI Summary

This bill enacts the "corporate political activity accountability to shareholders act", which requires that corporate contributions to political candidates, parties, or referendums be approved by a majority of shareholders at least annually. The bill applies to business corporations, foreign corporations, professional service corporations, cooperative corporations, not-for-profit corporations, railroad corporations, and transportation corporations. The corporations must also annually disclose their political contributions and independent expenditures to their shareholders and the Secretary of State. The Attorney General may enforce the provisions of the bill.

Committee Categories

Government Affairs

Sponsors (8)

Deborah Glick (D)*, Nily Rozic (D)*, Jo Anne Simon (D)*, Fred Thiele (D)*, William Colton (D), Donna Lupardo (D), Crystal Peoples-Stokes (D), Linda Rosenthal (D),

Last Action

referred to election law (on 01/03/2024)

Bill Topics

Banking, Finance, and Domestic Commerce

‐ Corporate Management

Civil Rights, Minority Issues, and Civil Liberties

‐ Campaign Finance and Political Spending

Official Document

https://www.nysenate.gov/legislation/bills/2023/A1418

(2 Companion Bills)

Version:

Document Type	Source Location	Created
State Bill Page	https://www.nysenate.gov/legislation/bills/2023/A1418	01/17/2023
BillText	https://assembly.state.ny.us/leg/?default_fld=&bn=A01418&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A01418	01/17/2023

Bill	Bill Name	Last Action	Type
A00442	Enacts the "corporate political activity accountability to shareholders act"; requires that corporate contributions to a political candidate or party committee or in support or opposition to a candidate or ballot referendum be approved by a majority of shareholders; applies to cooperative corporations, not-for-profit corporations, railroad and transportation corporations.	referred to election law	Reintroduced
S00640	Enacts the "corporate political activity accountability to shareholders act"; requires that corporate contributions to a political candidate or party committee or in support or opposition to a candidate or ballot referendum be approved by a majority of shareholders; applies to cooperative corporations, not-for-profit corporations, railroad and transportation corporations.	REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS	Same As

Bill > A01418

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (8)

Last Action

Bill Topics

Banking, Finance, and Domestic Commerce

Civil Rights, Minority Issues, and Civil Liberties

Official Document

bill text

bill summary

bill summary

bill summary