Bill > H703

This bill aims to limit political spending by foreign-influenced corporations. The key provisions include: 1. Defining a "foreign-influenced corporation" as one where a foreign national holds at least 5% of the equity or voting shares, or foreign nationals collectively hold at least 20% of the equity or voting shares. 2. Prohibiting foreign-influenced corporations from making independent expenditures, electioneering communication expenditures, or contributions to independent expenditure political action committees (PACs). 3. Requiring corporations that make such political expenditures to file a certification, signed by the chief executive officer under penalty of perjury, that the corporation was not a foreign-influenced corporation at the time of the expenditure. 4. Mandating that advertisements or communications funded by independent expenditures or electioneering communications include a disclaimer if the entity making the expenditure has not received certifications from its top contributors that none of the funds were derived from foreign-influenced corporations.

Government Affairs

https://malegislature.gov/Bills/191/H703