SB 156 - FINAL VERSION
2019 SESSION
19-0988
08/01
SENATE BILL 156
AN ACT relative to political contributions made by limited liability companies.
SPONSORS: Sen. Feltes, Dist 15; Sen. Levesque, Dist 12; Sen. Hennessey, Dist 5; Rep. Keans, Straf. 23
COMMITTEE: Election Law and Municipal Affairs
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ANALYSIS
This bill requires that a political contribution by a limited liability company be allocated to members for purposes of determining whether a member has exceeded the contribution limits.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
19-0988
08/01
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Nineteen
AN ACT relative to political contributions made by limited liability companies.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Legal Status of Limited Liability Company. Amend RSA 304-C:19, I to read as follows:
I. A limited liability company formed under this act shall be a legal entity separate and distinct from its members, except that political contributions made by a domestic or foreign limited liability shall be allocated to the members of the limited liability company, as provided in RSA 664:4-c, for the purpose of determining compliance of donors with the contribution limits set forth in RSA 664:4, V.
2 New Section; Contribution by Limited Liability Company. Amend RSA 664 by inserting after section 4-b the following new section:
664:4-c Contribution by Limited Liability Company. For the purpose of reporting contributions and determining whether a person has exceeded the contribution limits set forth in RSA 664:4, V, a contribution made by a domestic or foreign limited liability company shall be attributed to its members as if the contribution were made by the members. For a single-member limited liability company, the entire contribution shall be attributed to the member. For a multi-member limited liability company, the contribution shall be allocated to the members on the basis of each member's percentage membership interest in the company. If a member of a limited liability company is itself a limited liability company, the portion of the contribution allocated to that member shall be allocated among its members on the basis of their percentage membership interests, and shall be attributed to those members for the purpose of reporting contributions and determining whether those members have exceeded the contribution limits set forth in RSA 664:4, V. When a limited liability company makes a contribution, it shall provide the recipient of the contribution with the names and addresses of all members, and the names and addresses of all members of any member that is itself a limited liability company, and the amount of the contribution attributed to each member, or the member's members, as applicable.
3 Effective Date. This act shall take effect January 1, 2020.
VETOED July 10, 2019 -- Veto Sustained September 19, 2019
| Date | Body | Type |
|---|---|---|
| Feb. 6, 2019 | Senate | Hearing |
| March 28, 2019 | Senate | Floor Vote |
| March 27, 2019 | Senate | Floor Vote |
| April 16, 2019 | House | Hearing |
| May 16, 2019 | House | Exec Session |
| House | Floor Vote | |
| June 5, 2019 | House | Floor Vote |
Sept. 19, 2019: Notwithstanding the Governor's Veto, Shall SB 156 Become Law: RC 14Y-10N, Veto Sustained, lacking the necessary two-thirds vote; 09/19/2019; SJ 22
July 10, 2019: Vetoed by Governor 07/10/2019
June 13, 2019: Enrolled (In recess 06/13/2019); SJ 21
June 13, 2019: Enrolled 06/13/2019 HJ 19 P. 18
June 5, 2019: Ought to Pass: MA DV 212-139 06/05/2019 HJ 17 P. 57
: Minority Committee Report: Inexpedient to Legislate
: Majority Committee Report: Ought to Pass (Vote 12-8; RC)
June 5, 2019: Majority Committee Report: Ought to Pass for 06/05/2019 (Vote 12-8; RC) HC 27 P. 13
May 16, 2019: Executive Session: 05/16/2019 10:00 am LOB 308
April 16, 2019: Public Hearing: 04/16/2019 01:00 pm LOB 308
March 20, 2019: Introduced 03/20/2019 and referred to Election Law HJ 11 P. 73
March 28, 2019: Ought to Pass: RC 13Y-11N, MA; OT3rdg; 03/28/2019; SJ 11
March 27, 2019: Committee Report: Ought to Pass, 03/27/2019; SC 15
March 28, 2019: Committee Report: Ought to Pass, 03/28/2019; SC 15
Feb. 6, 2019: Hearing: 02/06/2019, Room 102, LOB, 09:15 am; SC 9
Jan. 3, 2019: Introduced 01/03/2019 and Referred to Election Law and Municipal Affairs; SJ 4