Elsewhere online
December 13, 2012

N.Y. to Seek Disclosure of Nonprofits' Political Spending

New York Attorney General Eric Schneiderman has proposed strict new disclosure demands for tax-exempt groups engaging in political activity, including 501(c)(4) "social welfare" organizations, the Associated Press reports.

The rules under consideration would require groups that spend at least $10,000 a year on "electioneering activities" for state and local races to report the proportion of their assets devoted to political work and disclose contributors who give $100 or more.

The attorney general's office said 501(c)(4) groups have become "attractive candidates" for financing attack ads because they can spend unlimited funds while keeping donors secret. It expects to adopt the rules, which will not require Gov. Andrew Cuomo's approval, following a period of hearings and public comment that ends March 6.