Bill > S00640

This bill enacts the "corporate political activity accountability to shareholders act". It requires that corporate contributions to a political candidate or party committee, or in support or opposition to a candidate or ballot referendum, be approved by a majority of shareholders. It applies to business corporations, cooperative corporations, not-for-profit corporations, railroad and transportation corporations, and limited liability companies. The bill also requires these entities to annually disclose to shareholders and file with the Secretary of State details on their political contributions and independent expenditures.