Attorney General Moves Forward with Regulations to Require Disclosure of ‘Dark Money’

New York State Attorney General Eric Schneiderman has formally provided notice of his proposed rules (and upcoming public hearings) to address what he calls “dark money” – political spending by non-profit, tax exempt organizations, in today’s NYS Register. Many ‘Super PACs’ function under this tax status. (Read a prior post on the issue here .)

The Attorney General’s Office will be holding hearings on the issue; the first is to be held on January 15th in New York City.

The Attorney General has an editorial, entitled “Shining a light on dark money,” in today’s Daily News, in which he describes the problem his regulations are intended to address:

Nonprofit organizations that are exempt from taxation under section 501(c)(4) of the federal tax code are supposed to exist “exclusively” for the “promotion of social welfare.” But these groups have been engaging in political activity without telling the public where they get their money.