New York Daily News

Push to expose hidden biz cash

- Kenneth Lovett

ALBANY — A Manhattan state senator wants to close a loophole that allows certain companies to shield the identities of those behind them.

Democrat state Sen. Brad Hoylman (inset) on Monday said he will introduce the bill after The Wall Street Journal found that about $300 million reported in a financial disclosure form filed by President Trump in 2016 came from assets held by 96 secretive limited-liability companies.

Hoylman’s bill would require that LLCs created or doing business in New York disclose the identities and addresses of their “beneficial owners,” mandate the state create an LLC public database and make it a crime to give false or outdated informatio­n.

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