CA AB1984

Revokes all existing corporate powers granted under California state law and limits corporations to only those powers specifically granted in the Corporations Code going forward

Explicitly prohibits corporations from engaging in "ballot issue activity" (supporting or opposing ballot measures) or "election activity" (supporting or opposing candidates or political parties)

Defines "corporation" broadly to include traditional corporations, nonprofit corporations, LLCs, limited partnerships, and limited liability partnerships organized under California law

Declares any corporate act beyond granted powers as "ultra vires and void," with violating corporations forfeiting limited liability protections and perpetual duration

Includes severability clause stating that if provisions are struck down, the Legislature prefers corporations have no powers at all rather than retain election or ballot issue activity powers