Assembly Passes Campaign Finance Bills

Yesterday, the Assembly approved two bills “aimed at bringing more clarity and transparency to current election law.” (Read the Assembly Speaker’s press release here.)

The first bill (A.7937-A) would put in law definitions for “independent expenditure committees” and “political action committees,” and also clarify the allowable contributions and spending for each type of committee.  [With current state law not defining what a political action committee, is, I’ve had some interesting conversations with clients (and potential clients) who want to create a New York State PAC.]

The second bill (A.7392) would address what are known as “housekeeping accounts.” It would prohibit the use of housekeeping funds for supporting or opposing a candidate; require such funds to be kept in a segregated account and prohibit transfers to any other account unless such account is also segregated and intended for housekeeping purposes; and prohibit the use of such funds to pay for “any political communication that includes or references the name, likeness, or voice of any clearly identified candidate or elected official.”

Assembly Speaker Carl Heastie said:

“Now more than ever, we must work to restore our constituents’ confidence in our electoral process. These bills would help to ensure that the voices of all New Yorkers are heard and to limit the influence of big money in politics.”

The bills do not have Senate counterparts, meaning that it  is unlikely that they will be taken up in the Senate before the end of the 2015 legislative session, which is scheduled for next week.