Governor Hochul Guts the Limited Liability Transparency Act

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hochul LLC transparency act
Limited Liability Companies (LLC) are a notorious tool for creating shell “companies” to hide who really owns a property or business. 93% of New York property owners are already disclosed in public databases – why keep a loophole for shady actors?
The Limited Liability Transparency Act passed by the legislature was supported by law enforcement officials, watchdog groups, editorial boards, tenants’ rights groups, and labor unions. Instead of approving the bill Governor Hochul gutted it by creating a secret database of LLC owners that the public cannot see. Somehow a transparency bill turns into a secret database. Simply incredible the lengths the Governor will go to keep the public in the dark