Bill > S454

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 single foreign owner holds 1% or more of the equity/voting shares, or where two or more foreign owners collectively hold 5% or more of the equity/voting shares, or where a foreign owner participates in the corporation's political decision-making. 2. Prohibiting foreign-influenced corporations from making independent expenditures, electioneering communications, contributions to independent expenditure PACs, contributions to ballot question committees, or expenditures related to charter changes, referendum questions, constitutional amendments, or other voter-submitted questions. 3. Requiring corporations that make such political expenditures or contributions to file a statement of certification, signed by the chief executive officer under penalty of perjury, that the corporation was not foreign-influenced at the time. 4. Mandating that advertisements or communications funded by independent expenditures or electioneering communications include a statement if any of the funds used were provided by foreign-influenced corporations, unless the funder has received a statement of certification from each contributor that their funds were not derived from foreign-influenced corporations.

Government Affairs

https://malegislature.gov/Bills/192/S454