Bill > H875

This bill aims to restrict political spending by corporations with significant foreign ownership or influence by introducing new definitions and regulations for political expenditures. The bill defines key terms like "foreign-influenced corporation," which includes entities where a single foreign owner holds at least 1% of ownership, multiple foreign owners collectively hold 5% or more, or a foreign owner participates in political decision-making. Under the proposed law, such corporations would be prohibited from making independent expenditures, electioneering communication expenditures, contributions to independent expenditure PACs, ballot question committees, or expenditures related to promoting or opposing ballot measures. Corporations making political expenditures must file a certification with the director within 7 business days, signed by the chief executive officer, affirming they are not a foreign-influenced corporation. Additionally, advertisements funded by entities that may have received contributions from foreign-influenced corporations must include a disclaimer stating that "Some of the funds used to pay for this message may have been provided by foreign-influenced corporations." The bill seeks to increase transparency and limit potential foreign influence in political spending by requiring detailed disclosures and imposing restrictions on corporations with significant foreign ownership.

Government Affairs

https://malegislature.gov/Bills/194/H875