New York AG (Eric Schneiderman) Wants To Shine Light On Dark Money
New York Attorney General Eric Schneiderman (D) on Wednesday announced new rules that would force so-called “dark money” political organizations that operate in New York to report more details about their activities.
The proposed regulations, which Schneiderman’s office expects to put into effect by early 2013, are aimed in particular at 501(c)4 “social welfare” organizations, which can raise unlimited funds and keep donors secret, and which have spent hundreds of millions of dollars in the last two federal election cycles.
The rules would require all non-profit groups that are registered in the state to include in annual financial reports the percentage of their spending that goes to federal, state and local electioneering. (Any non-profit that raises or spends over $25,000 in New York must register with the Attorney General’s Office.) Groups that spend $10,000 or more to influence state or local elections and ballot measures will also have to submit itemized reports, disclosing, among other things, the names of donors who give $100 or more.
“When people spend money to try to influence our elections, the public needs to know where that money is coming from, and how it is being spent,” Schneiderman said in a press release. “Nonprofits should not be used to subvert that basic principle. Simply put, transparency reduces the likelihood of corruption.”
http://tpmmuckraker.talkingpointsmemo.com/2012/12/new_york_dark_money_rules.php
