Requires a publicly traded corporation that makes a political expenditure of more than $100 in a calendar year to first obtain approval for the political expenditure from shareholders by an affirmative vote of the majority of shares entitled to vote.

Plain English Breakdown

The plain English breakdown is still being put together. The official documents below are already here.

Official Summary Text

Digest: Says that a big company that gives more than $100 to another person for political reasons must first get approval from shareholders to do so. Tells the big company that gives out money for a political reason to let people know it has done so. Tells the heads of the company that they must let people know what interest they have in the person to which the big company gave the money. Takes effect 91 days after the session ends. (Flesch Readability Score: 62.8).
Requires a publicly traded corporation that makes a political expenditure of more than $100 in a calendar year to first obtain approval for the political expenditure from shareholders by an affirmative vote of the majority of shares entitled to vote.
Requires a corporation to disclose the amount, recipient and purpose of each political expenditure in excess of $100 in each calendar year. Requires the directors and officers of a publicly traded corporation to disclose a statement of economic interest that provides certain information with respect to the director's or officer's interest in the recipient of the political expenditure or in the candidate or expected change in policy for which the publicly traded corporation made the political expenditure.
Becomes operative on January 1, 2026.
Takes effect on the 91st day following adjournment sine die.
Relating to: Relating to political expenditures by publicly traded corporations; prescribing an effective date.
Current location: In House Committee