Bill > H640

This bill proposes to limit political spending by foreign-influenced corporations. It defines a "foreign-influenced corporation" as one where a single foreign owner holds at least 1% of the company's equity or voting shares, or where two or more foreign owners collectively hold at least 5% of the company's equity or voting shares, or where a foreign owner participates in the corporation's political decision-making in the US. The bill prohibits such foreign-influenced corporations from making independent expenditures, electioneering communications, or contributions to independent expenditure PACs. It also requires corporations making such expenditures or contributions to certify, under penalty of perjury, that they are not foreign-influenced. Advertisements and communications funded by these expenditures must disclose if any of the funds used may have been provided by foreign-influenced corporations.

Government Affairs

https://malegislature.gov/Bills/191/H640