Deadline for New Jersey's Annual Pay-to-Play Disclosure is Approaching: Is Your Company Ready to File?
March 7, 2017
After ELEC sent out its reminder email on March 6, we are reproducing below a Genova Burns LLC client alert that was distributed last week for any potential filers who may require additional information about the annual pay-to-play disclosure.
The New Jersey Election Law Enforcement Commission ("ELEC") requires each business entity that received payments of $50,000 or more (in the aggregate) as a result of government contracts during the 2016 calendar year to electronically file a Business Entity Annual Statement ("Form BE") with ELEC no later than Thursday, March 30, 2017.
The obligation to file arises whenever payments from New Jersey government entities reach the $50,000 threshold. This includes contracts with the State of New Jersey Executive and Legislative branches, counties, municipalities, boards of education, fire districts, and independent authorities, regardless of method of award.
Additionally, detailed contract and contribution information must be disclosed whenever the business entity or a covered individual made a "reportable" contribution during 2016. A contribution is "reportable" when it exceeds $300 per reporting period. In light of these requirements, it is necessary to review personal political contributions made by a business entity's partners, officers, and directors (and certain members of their families). Additionally, because of varying election cycles, it may be necessary to review contributions made over the course of several years to determine whether any 2016 contributions are reportable.
Companies that fail to file on time may be subject to monetary penalties. To ensure a timely and accurate filing, companies that have yet to begin preparing Form BE should not delay.
Genova Burns LLC can help your company comply with the Form BE filing requirements. Contact Rebecca Moll Freed, Esq., Chair of the Corporate Political Activity Law Group, at email@example.com or 973-230-2075 or Avi D. Kelin, Esq. at firstname.lastname@example.org or 973-646-3267.
Tags: New Jersey • ELEC • pay-to-play • Form BE • pay-to-play restrictions • Corporate Political Activity Law • Genova Burns LLC • NJELEC • Rebecca Moll Freed • Avi Kelin • Corporate Political Activity • Genova Burns