Bill > H722

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 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 communication expenditures, contributions to independent expenditure PACs, contributions to ballot question committees, or expenditures related to charter changes, referenda, constitutional amendments, or other voter-submitted questions. Corporations making such political expenditures must file a certification from the CEO affirming that the corporation was not foreign-influenced when the expenditure was made. Additionally, independent expenditure and electioneering communications must disclose if any of the funds used were provided by foreign-influenced corporations.

Government Affairs

https://malegislature.gov/Bills/193/H722