NJ Panel Targets Political Cash From Casino-Investing Funds

Law360, New York (January 14, 2013, 4:19 PM EST) -- A three-part legislative package aimed at limiting political contributions by hedge funds and private equity funds that invest in casinos or limiting the state’s investment in such funds cleared a New Jersey Assembly panel Monday.

The Assembly Regulatory Oversight and Gaming Committee advanced the package of bills, which now heads to the Assembly speaker for further consideration. The sponsors of the legislation, Assemblymen Ralph R. Caputo, D-Essex, and Ruben Ramos Jr., D-Hudson, say it will enforce safeguards against excessive investing and pay-to play for investments made...
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