Bill > H839

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 at least 1% of the equity or voting shares, or where two or more foreign owners collectively hold at least 5% of the equity or voting shares, or where a foreign owner participates in the corporation's political decision-making in the US. The bill prohibits 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, referendums, constitutional amendments, or other voter questions. Corporations making such expenditures or contributions must file a certification from the CEO stating the corporation was not foreign-influenced at the time. The bill also requires independent expenditure and electioneering communications to include a disclaimer if any of the funds came from foreign-influenced corporations, unless the entity making the expenditure has a certification stating otherwise.

Government Affairs

https://malegislature.gov/Bills/192/H839