The effectiveness of laws banning political donations from property developers and the alcohol, gambling and tobacco industries will be reviewed but Premier Mike Baird says his government "does not intend" to overturn them.

The decision to review the effectiveness of the bans is contained in the government's response to the recommendations of a parliamentary committee released three days before Christmas.

Mr Baird has been looking at how to improve election funding laws following Operation Spicer, the Independent Commission Against Corruption's inquiry into Liberal party fundraising before the 2011 election.

An expert panel commissioned by Mr Baird, chaired by businesswoman Kerry Schott, recommended in 2014 that the donor bans remain in place "for the time being" pending the outcome of a High Court challenge by former Newcastle lord mayor Jeff McCloy and the introduction of donations caps for local government elections.