The city Campaign Finance Board found NYC Mayor Bill de Blasio did not break contribution limitation rules by raising
unlimited contributions through his Campaign for One New York fund — then immediately issued a de facto rebuke of the tactic.
Cuomo wants to close a loophole in election law that allows for
unlimited contributions through LLCs, as well as a bill to block those convicted of corruption from receiving pension benefits through a constitutional amendment's first passage.
At the moment, a single campaign donor can give
unlimited contributions through a network of limited liability companies or LLCs.
Not exact matches
A coalition of groups on Monday urged the state Board of Elections to prohibit the practice of allowing individual donors to give
unlimited campaign
contributions through a network of limited liability corporations.
The state Business Council on Wednesday urged the Board of Elections in a letter to not end what in effect has been a regulation allowing
unlimited campaign
contributions through LLCs.
The city Campaign Finance Board Wednesday found Mayor de Blasio broke no
contribution limitation rules by raising
unlimited donations
through an outside fund — then immediately issued a de facto rebuke of the tactic.
David Weprin: Well, clearly when you're dealing with an opponent that is not part of the system, who has
unlimited funds, as the recent election we just went
through with the mayor of the city of New York, I would remove the individual cap on
contributions for donors and go to a much higher cap similar to the one that's at the state level for the governor of the state of New York.
Cuomo's prescriptions in his 2016 State of the State speech included closing a legal loophole that lets campaign donors funnel
unlimited sums to candidates
through limited - liability companies; requiring office holders to report campaign
contributions every 60 days instead of twice a year; allowing lawmakers to earn no more than 15 percent of their legislative salaries in private - sector work; and adopting a system of voluntary public campaign financing similar to what New York City has.
The measures include provisions Assembly Democrats have backed in the past, including an end to
unlimited political
contributions funneled
through limited liability companies, new regulations for party conference «housekeeping» or soft money accounts and new transparency proposals for lobbying funds.
Mr. Cuomo's office had no immediate response to the proposal, which also included a plan to close the so - called L.L.C. loophole, which allows corporate interests to spend almost
unlimited amounts of money on campaigns by channeling
contributions through limited liability companies, which can be designed to provide little transparency.
But any effort to fix the system would be complicated by loopholes that permit wealthy individuals and moneyed interests to exert outsize influence, including
through 527 groups, which can accept
unlimited contributions.
Campaign finance reform is currently a hot button issue in the New York State Legislature where a bill to close the LLC loophole, which allows
unlimited campaign
contributions to individuals and parties
through multiple LLCs, has languished in the state Senate.
While in that instance money was routed
through county committees in what election enforcement officials suspect was an effort to circumvent
contribution limits, both the Republican State Leadership Committee and Balance New York are outside, independent groups that can take and give
unlimited donations.
They found that it solicited
unlimited contributions to support candidates and then passed them
through a «sham organization» called The Coalition for Energy and the Environment that ran attack ads against Democrats.