Assemblywoman Russell, D-Theresa, voted today to close a
loophole in the campaign finance law with respect to Limited Liability
Companies (LLC). According to State Board of Elections, LLCs are currently
treated as individual donors and have corresponding campaign contribution
limitations. Because of this, individuals can make multiple contributions to
the same candidate or committee through separate LLCs, skirting the campaign
finance law.
“This legislation will make political campaigns more transparent,” Assemblywoman Russell said. “By closing this loophole, we will be able to limit big spenders who try to circumvent campaign finance laws, take big money out of politics, and ensure everyone plays by the same rules.”
Assemblywoman Russell noted that the legislation would clarify election law and treat LLCs as corporations, holding them to an aggregate $5,000 contribution limit in a calendar year.
“This legislation will make political campaigns more transparent,” Assemblywoman Russell said. “By closing this loophole, we will be able to limit big spenders who try to circumvent campaign finance laws, take big money out of politics, and ensure everyone plays by the same rules.”
Assemblywoman Russell noted that the legislation would clarify election law and treat LLCs as corporations, holding them to an aggregate $5,000 contribution limit in a calendar year.