N.Y. Governor to Propose Campaign Finance Curbs

Law firms and financial advisory firms could be banned from making campaign contributions to candidates for New York State offices under a proposal from Gov. David Paterson.

He is expected to officially propose the Reform Albany Act in his state of the state speech today, though his office released details of the wide-reaching plan yesterday.

The measure would ban corporate contributions, including those made by limited-liability partnerships and limited-liability corporations. Individuals at those types of businesses could still make campaigns contributions, but the practice of bundling would be banned as well.

Law firms that have public finance practices have contributed hundreds of thousands of dollars to campaigns across the state in recent years, according to New York State Board of Elections filings.

Hiscock & Barclay LLP, for example, has contributed $619,199 to various campaigns, political action committees and so-called housekeeping accounts since 2006. During that time, Nixon Peabody LLP has contributed $464,957 and Hawkins Delafield & Wood LLP has contributed $49,609, according to filings.

Paterson’s  proposal would also create a public campaign finance system that would provide a four-to-one match for contributions of up to $250. Individual contributions would be limited to up to $1,000.

The campaign finance changes are part of a larger proposal. Another change would replace the state comptroller’s sole trusteeship of the state pension fund with a board. The proposal would also impose term limits on elected state officials and create a new independent ethics commission.

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