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June 05, 2013

N.Y. to Impose Disclosure Rules for Political Nonprofits

New York State Attorney General Eric Schneiderman is slated to announce new regulations Wednesday that will require dark-money nonprofit groups to disclose how they raise and spend money for political purposes, says the Associated Press.

The directive will require nonprofit entities that spend at least $10,000 to influence local, state, or federal elections in New York to detail political expenditures such as advertising and identify donors. Nonprofit 501(c)(4) social-welfare groups that are not required to disclose their contributors have become major players in recent elections, spending tens of millions of dollars on attack and issue ads.

"When people spend money to try to influence our elections, the public needs to know where that money is coming from, and how it is being spent," said the Democratic attorney general, who is using his authority as a charity regulator to institute the rules. "Simply put, transparency reduces the likelihood of corruption."