Comptroller DiNapoli Claims Success on Forcing Corporate Disclosure of Political Spending

New York State Comptroller Tom DiNapoli announced today that three companies have responded favorably to the request by the Council of Institutional Investors (CII) that they be more transparent in how they fund political campaigning and issue advocacy.

DiNapoli said that Marriott International, Yum Brands and Limited Brands clothing have agreed to report their direct and indirect financial and other contributions to political campaigns and advocacy groups.  They will also clarify their approval processes for making political contributions.

DiNapoli’s efforts stem from the U.S. Supreme Court’s 2010 Citizens United decision, which expanded the ability of corporations to make political contributions out of corporate funds.

New York City Public Advocate Bill DeBlasio is supporting a legislative effort in support of S.101 Squadron/A.696 Lancman, which would require corporations to obtain shareholder approval for any political spending they do in New York State, and to fully disclose all such spending.