Assemblymember Bronson: It’s Time to Close the LLC Loophole and Help Keep Special Interests out Of Our Elections

Assemblymember Harry B. Bronson (D-Rochester/Chili/Henrietta) announced he helped pass legislation to increase transparency in New York State elections and curb corruption by closing the limited liability corporation (LLC) loophole in election law (A.1926). The measure would ensure LLCs adhere to the same campaign contribution limits as corporations and require individuals with membership interests be disclosed.

“New Yorkers deserve an honest, open and transparent government, but for far too long, big-money special interests have been able to circumvent campaign finance laws by hiding behind LLCs,” Bronson said. “Closing this loophole will help restore integrity to our electoral process and show voters that their voices matter.”

Under current law, individuals and corporations can make unlimited contributions to the same candidate, political party or campaign committee by using LLCs for each contribution. The Assembly measure would extend the current $5,000 aggregate contribution limit applicable to corporations to LLCs, helping level the playing field.

“It’s about time New Yorkers have a government they can trust, and closing the LLC loophole will be an important step forward in the right direction toward achieving fairer elections,” Bronson said.