Commission concludes consideration of rulemaking regarding limited liability partnerships
The Commission has ended the consideration of a rulemaking which would have revised Commission regulations to treat certain limited liability partnerships (LLPs) as corporations for purposes of the Federal Election Campaign Act (the Act).
Background
On December 13, 2012, the Commission published a Notice of Proposed Rulemaking (NPRM) in the Federal Register seeking comment on a proposed rule that would treat LLPs that opt for federal corporate tax treatment as corporations for the purposes of the Act.
The Commission received four comments on the NPRM. Three of the comments were supportive of new rules on LLPs but did not support the Commission’s proposal. One of the comments explicitly opposed the proposal.
As the Commission has not taken any additional action on the proposal and there has been no public interest shown in this rulemaking, the Commission has ended consideration of this matter and terminated REG 2012-02.