Bill > A00910

This bill enacts the "Corporate Political Activity Accountability to Shareholders Act", which requires corporations across various sectors in New York (including business corporations, cooperatives, not-for-profit corporations, railroad and transportation corporations, banking institutions, and limited liability companies) to obtain shareholder approval before making political contributions or independent expenditures. Specifically, corporations must annually obtain authorization by a majority vote of shareholders to make political contributions or independent expenditures up to a stated aggregate annual amount for a stated business purpose. The bill defines "contributions" broadly to include monetary gifts, loans, and communications intended to influence political outcomes, and "independent expenditures" as communications advocating for or against candidates or ballot proposals without direct coordination with campaigns. Corporations must also annually disclose details of their political spending to shareholders, including the date, amount, and recipient of each contribution or expenditure, and the secretary of state is required to publish these disclosures on their website. The attorney general is empowered to enforce these provisions, and the law will take effect on August 1st following its passage.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/A910