Under new legislation introduced into state parliament today property developers may be hit with $11,000 fines if they donate to political parties.
Political parties may also be fined up to $22,000 under the new laws.
The Election Funding and Disclosures Amendment (Property Developers Prohibition) Bill 2009 is intended to amend the existing law to prohibit political donations by property developers.
The laws were foreshadowed by the announcement of NSW Premier Nathan Rees at a conference earlier this month.
“The Australian Labor Party (NSW Branch) will not accept another dollar from developers.” Mr Rees had said.
Mr Rees also said he wanted to lead the nation in introducing legislation to extend the ban on developer donations to all parties, not just in NSW.
“NSW supports the need for national reform but we are determined to lead the debate,” Mr Rees said.