HB1648: Political contributions; prohibited from foreign-influenced corporations, required reports.

Legislative Summary

Prohibited contributions from foreign-influenced corporations; required reports. Prohibits foreign-influenced corporations, as defined in the bill, from making independent expenditures or making contributions to a candidate, campaign committee, political committee, or political party committee. The bill provides that any such corporation violating the prohibition is subject to a fine of not more than $50,000 and that any officer, director, or agent of any such corporation involved in such violation is subject to a fine of not more than $10,000, imprisonment for not more than one year, or both. The bill also requires that any corporation, as defined in the bill, that makes an independent expenditure or makes a contribution to a candidate, campaign committee, political committee, or political party committee must certify with the Department of Elections that, after due inquiry, the corporation was not a foreign-influenced corporation on the date such expenditure or contribution was made.