Bill > A02633

This bill, known as the "democracy preservation act," prohibits foreign-influenced business entities from making contributions or donations to state or local elections, either directly or indirectly. It defines a "foreign-influenced business entity" as one where a single foreign owner holds at least 1% of the total equity or voting shares, or where two or more foreign owners collectively hold at least 5% of the total equity or voting shares. The bill also requires business entities making political expenditures or contributions to file a statement of certification with the state board of elections, affirming under penalty of perjury that they are not foreign-influenced. The aim is to limit the participation of foreign entities in influencing New York's democratic process.