This bill amends existing laws regarding political contributions made by limited liability companies (LLCs) to clarify how these contributions are allocated among the members of the LLC. Specifically, it introduces new legal language that states political contributions from both domestic and foreign LLCs will be allocated to their members based on their percentage membership interests. This allocation is crucial for determining compliance with contribution limits set forth in RSA 664:4, IV. The bill also specifies that for single-member LLCs, the entire contribution will be attributed to that single member.

Additionally, the bill outlines procedures for contributions made by LLCs that have other LLCs or corporations as members. It mandates that when an LLC makes a contribution, it must provide the recipient with the names and addresses of all its members, as well as the amounts attributed to each member. The effective date of this act is set for 60 days after its passage. Overall, the bill aims to enhance transparency and ensure compliance with campaign finance laws regarding contributions from LLCs.

Statutes affected:
Introduced: 304-C:19