Banning Political Spending by Corporations Convicted of Financial Crimes.
This bill aims to reduce the influence of corporations involved in serious misconduct on elections. It imposes a 10-year ban on political spending (contributions, independent expenditures) for companies convicted of felonies involving dishonesty or breach of trust. The ban also applies to corporations that settle such charges with the Attorney General for $1 million or more, ensuring that entities proven to be criminally dishonest cannot use their funds to influence campaigns.
Key points
Corporations convicted of felonies like conspiracy to defraud the US or other dishonesty crimes are banned from political spending for 10 years.
The ban also applies if the corporation avoids conviction but enters into a nonprosecution agreement requiring a payment of $1,000,000 or more.
The restriction covers all political disbursements, including contributions and independent expenditures, in federal, state, and local elections.
Status:
Expired
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