What is the official ID of this bill?
The official print number for this legislation is S 530.
Shareholder Protection: Greater Control Over Corporate Political Spending
New rules aim to increase transparency and shareholder control over how companies spend money on political activities. This means that as a shareholder, you will have more influence over decisions regarding funding campaigns or political organizations, which can impact corporate accountability to their owners.
Key points
Public companies will need majority shareholder approval before making certain political expenditures.
Shareholders will vote on the total amount allocated for political activities in the upcoming year.
Company boards will have to publicly disclose their votes on political expenditures exceeding $50,000.
Companies will submit quarterly reports on all political expenditures, including who or what the funds were spent on.
Officers and directors who authorize unauthorized political expenditures may face personal financial liability.
Status:
Expired
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