Gov. Kathy Hochul has signed a bill into law that will require limited liability companies to report the names of their owners to the New York Department of State.

The information will then be compiled in an internal database that will be accessible to law enforcement agencies.

Currently, some companies or properties list a limited liability company, also known as an LLC, as the owner. This is a way that people can hide their identities.

Earlier this year, the New York Legislature passed the LLC Transparency Act, sponsored by Assemblymember Emily Gallagher and Sen. Brad Hoylman-Sigal.

Hochul signed an amended version of the legislation Saturday, eliminating a section that would have required LLC data to be published on a public database.

The bill was modeled off a federal law aimed at tackling fraud and corruption set to take effect Jan. 1, requiring owner name disclosures to the U.S. Department of the Treasury.

“For far too long, bad actors have been protected by the loose disclosure requirements of LLC ownership,” Hochul said in a statement. “Wage theft, money laundering, tenant mistreatment and other unlawful activity has been masked by the opaque ownership structure of an LLC. The new LLC Transparency Act will give law enforcement and State regulators the tools they need to hold bad actors accountable.

Hochul’s communications director, Anthony Hogrebe, later released a separate statement defending changes to the legislation as well as the vetoes of other bills.

“Governor Hochul has been clear: she will always do what’s right for New Yorkers, even if it’s unpopular in the halls of Albany. This year the State Legislature passed 896 bills – more than 500 of which passed in the final days of the session – most without a single hearing or opportunity for public comment,” Hogrebe said.

“These included a number of extreme legislative proposals that would have put public safety or the state's economic recovery at risk. Governor Hochul successfully secured common sense changes to dozens of bills, and didn’t hesitate to use her veto pen when necessary to prevent harm to New Yorkers. She will continue standing up for the people of this state, no matter what it takes,” Hogrebe added.