December 12, 2012 •
New York Attorney General Proposes Expanded Campaign Finance Disclosure
New York Attorney General, Eric T. Schneiderman, issued a draft regulation that could lead to massive changes in the way political spending is disclosed. The proposed regulation would require any tax-exempt group that does business in the state to disclose what percentage of its total spending went to political activities.
This means that any group who spends money in New York in support or opposition of a candidate would be forced to disclose its spending. Further, once the group has spent over $10,000 for state elections, it will have to disclose each individual donor who gave $100 or more.
The proposed regulation does allow for a waiver to be granted if the group feels that disclosure of names could lead to serious threats or harassment. The proposal calls for disclosure during the six months before any Election Day in the state.
Public hearings must be heard on the proposed regulation, but the attorney general may unilaterally approve the final regulation. If approved by the attorney general, the rules could be placed into effect in time for the upcoming New York City mayoral election.
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