Bill > S07578

This bill enacts the "Democracy Preservation Act," which prohibits contributions by "foreign-influenced business entities" to state or local elections, political committees, or for political communications. It defines "foreign-influenced" to mean a business entity where a single foreign national owns 1% or more of the entity, or where two or more foreign nationals own 5% or more. The bill also requires business entities making political expenditures or contributions to certify under penalty of perjury that they are not a foreign-influenced business entity.