Int. No. 1074
By the Public Advocate (Ms. James) and Council Member Holden
Title
A Local Law to amend the administrative code of the city of New York, in relation to spending by foreign nationals and foreign-influenced entities in connection with city elections
Body
Be it enacted by the Council as follows:
Section 1. Section 3-702 of the administrative code of the city of New York is amended by adding new subdivisions 23 and 24 to read as follows:
23. Foreign-influenced entity. The term "foreign-influenced entity" means any entity, as defined in clause (ii) of subparagraph (a) of paragraph 15 of subdivision a of section 1052 of the charter, for which at least one of the following conditions is met:
a. A single foreign national holds, owns, controls, or otherwise has direct or indirect beneficial ownership of five percent or more of the total equity, outstanding voting shares, membership units, or other applicable ownership interests of the entity;
b. Two or more foreign nationals, in aggregate, hold, own, control, or otherwise have direct or indirect beneficial ownership of 20 percent or more of the total equity, outstanding voting shares, membership units, or other applicable ownership interests of the entity; or
c. A foreign national participates directly or indirectly in the entity's decision-making process with respect to the entity's political activities in the United States, including the entity's political activities with respect to a covered election.
24. Foreign national. The term "foreign national" means:
a. A foreign national, as defined in subsection (b) of section 30121 of title 52 of the United States code, including but not limited to a foreign government or a foreign principal; or
b. An entity for which, in aggregate, one or more foreign nationals, as defined in subsection (b) of section 30121 of title 52 of the United States code, own, control, or otherwise have direct or indir...
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