New York A 7162: Enacts the "forfeiture of campaign finance accounts and return of contributions act"

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A07162 Summary:

BILL NOA07162 

&nbsp

SAME ASNo Same As

&nbsp

SPONSORChandler-Waterman

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Add §14-134, El L

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Enacts the "forfeiture of campaign finance accounts and return of contributions act".

Go to top A07162 Actions:

BILL NOA07162 

&nbsp

03/21/2025referred to election law

01/07/2026referred to election law

Go to topA07162 Committee&nbspVotes:

Go to topA07162 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA07162 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 7162

 2025-2026 Regular Sessions

 IN ASSEMBLY

 March 21, 2025
 ___________

 Introduced by M. of A. CHANDLER-WATERMAN -- read once and referred to
 the Committee on Election Law

 AN ACT to amend the election law, in relation to enacting the "forfei-
 ture of campaign finance accounts and return of contributions act"

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. This act shall be known and may be cited as the "forfeiture
 2 of campaign finance accounts and return of contributions act."
 3 § 2. The election law is amended by adding a new section 14-134 to
 4 read as follows:
 5 § 14-134. Forfeiture of campaign finance accounts and return of
 6 contributions. 1. The provisions of this section shall apply to any
 7 person who holds or maintains a campaign finance account or accounts
 8 subject to the provisions of this article who:
 9 (a) is indicted or charged with a crime or is charged with a violation
 10 of the state ethics laws and resigns from office due to said charges
 11 prior to conviction or adjudication and complete disposition of said
 12 charges; or
 13 (b) is convicted of a felony or crime for which such conviction would
 14 disqualify the person from holding the elected office for which the
 15 campaign funds were raised; or
 16 (c) resigns from office due to formal complaints filed with and charg-
 17 es brought by the legislative ethics commission, established by section
 18 eighty of the legislative law for violation of state ethics laws prior
 19 to complete adjudication and disposition of such complaints or charges.
 20 2. All such campaign finance accounts subject to the provisions of
 21 this article and held or maintained by any person described in subdivi-
 22 sion one of this section or, on behalf of such person, shall be
 23 forfeited to the custody and the control of the office of the New York
 24 state comptroller within ten days of the effective date of resignation
 25 of said person's forfeiture of their office. The treasurer of the

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD06785-01-5

 A. 7162 2

 1 campaign committee and the former office holder for which the campaign
 2 finance account was maintained, shall be responsible for compliance
 3 within the period set forth in this article or said person shall be
 4 subject to a civil penalty of one thousand dollars per day until compli-
 5 ance is met.
 6 3. The New York state comptroller shall establish a forfeited campaign
 7 finance funds account for the purpose of the return of said campaign
 8 funds to the original donors and shall establish a process to provide
 9 for the most expeditious return of campaign finance funds to donors in
 10 the order of last donor first, until such funds have been fully
 11 expended. To the extent that it is not possible to ascertain the identi-
 12 ty of individual donors, any remaining unclaimed forfeited campaign
 13 finance funds may be applied to the New York state comptroller's cost to
 14 administer the forfeited campaign finance fund account.
 15 § 3. This act shall take effect on the first of January next succeed-
 16 ing the date upon which it shall have become a law.

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