New York Governor Signs Bill Closing ‘LLC Loophole’

Skadden, Arps, Slate, Meagher & Flom LLP

Kenneth A. Gross Ki P. Hong Matthew Bobys Melissa L. Miles Charles M. Ricciardelli Theodore R. Grodek Shayla K. Parker Jeremy F. Regan Tyler Rosen

On January 24, 2019, New York Gov. Andrew Cuomo signed a bill closing the “LLC loophole,” as discussed in our January 22, 2019 mailing. The new law will be effective on January 31, 2019. As a result, a candidate or committee must receive an LLC’s contribution by January 30, 2019 for that contribution to be subject to the prior limits.

This memorandum is provided by Skadden, Arps, Slate, Meagher & Flom LLP and its affiliates for educational and informational purposes only and is not intended and should not be construed as legal advice. This memorandum is considered advertising under applicable state laws.

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