New York City Council Header
File #: Int 1456-2019    Version: * Name: Classifying credit card processing fees and bank fees as exempt expenditures.
Type: Introduction Status: Committee
Committee: Committee on Governmental Operations
On agenda: 2/28/2019
Enactment date: Law number:
Title: A Local Law to amend the administrative code of the city of New York, in relation to classifying credit card processing fees and bank fees as exempt expenditures
Sponsors: Mark Levine, Keith Powers , Kalman Yeger , Justin L. Brannan, Robert F. Holden
Council Member Sponsors: 5
Summary: This bill would provide that credit card processing fees paid by a campaign for contributions received by the campaign and any bank fees paid by the campaign would not count against the expenditure limitation for that campaign.
Attachments: 1. Summary of Int. No. 1456, 2. Int. No. 1456, 3. February 28, 2019 - Stated Meeting Agenda with Links to Files

Int. No. 1456

 

By Council Members Levine, Powers, Yeger, Brannan and Holden

 

A Local Law to amend the administrative code of the city of New York, in relation to classifying credit card processing fees and bank fees as exempt expenditures

 

Be it enacted by the Council as follows:

 

Section 1. Section 3-706 of the administrative code of the city of New York is amended by adding a new subdivision 6 to read as follows:

6. Expenditures for credit card processing fees for contributions received by the candidate and his or her principal committee and for any bank fees shall not be limited by the expenditure limitation of paragraph a of subdivision 1 of this section.

§ 2. This local law takes effect 120 days after it becomes law, except that the campaign finance board may take all actions necessary for the implementation of this local law, including the promulgation of rules, prior to such effective date, and except that section one of this local law shall apply to any expenditure made prior to the effective date in furtherance of a covered election that occurs after such effective date.

 

 

 

 

NAB

LS #9528

2/6/2019