NY Senate Panel Kills Corporate Political Disclosure Bill

Law360, New York (April 22, 2013, 6:45 PM EDT) -- Post-Citizens United legislation requiring New York businesses to get shareholder approval before making campaign-related donations and to disclose details of such spending, was killed by New York state Senate Republicans in committee Monday in a move that drew the ire of its Democratic sponsor.

Without comment, the Senate's Corporations Authorities and Commissions Committee, chaired by Williamsville, N.Y., Republican Michael H. Ranzenhofer, defeated New York City Democratic Sen. Daniel Squadron's Corporate Political Activity Accountability to Shareholders Act by a 4-1 vote. 

Squadron, who had used a procedural...
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