Bill > A07162

This bill establishes new rules for campaign finance accounts when an elected official is indicted, charged with a crime, resigns due to ethics violations, or is convicted of a felony that would disqualify them from holding office. Specifically, under these circumstances, the individual's campaign finance accounts must be forfeited to the New York State Comptroller within ten days of resignation, with the campaign treasurer and former officeholder being responsible for compliance. If they fail to comply, they will be subject to a civil penalty of $1,000 per day. The Comptroller will then create a special account to return campaign funds to donors, prioritizing the most recent donors first. If donor identities cannot be determined, any remaining funds may be used to cover the administrative costs of managing the forfeited campaign finance fund account. The bill aims to ensure accountability and transparency by preventing potentially corrupt politicians from retaining campaign funds after leaving office under compromising circumstances. The new law will take effect on the first day of January following its passage.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/A7162