Bill > S418

This bill aims to limit political spending by foreign-influenced corporations. It defines a "foreign-influenced corporation" as one where a single foreign owner holds 1% or more of the total equity or voting shares, or where two or more foreign owners hold 5% or more of the total equity or voting shares, or where a foreign owner participates in the corporation's decision-making process regarding its political activities in the United States. The bill prohibits foreign-influenced corporations from making independent expenditures, electioneering communication expenditures, or contributions to independent expenditure political action committees (PACs). It also requires corporations making such expenditures or contributions to file a certification from the chief executive officer that the corporation was not foreign-influenced at the time. Additionally, the bill requires advertisements or communications funded by independent expenditures or electioneering communications to include a disclaimer if the funding sources include foreign-influenced corporations.

Government Affairs

https://malegislature.gov/Bills/191/S418