MD HB1378

Prohibits all domestic and foreign business entities formed or authorized in Maryland—including corporations, LLCs, limited partnerships, and trusts—from engaging in election activities (supporting/opposing candidates, parties, or political committees) or ballot issue activities (initiatives, referendums, constitutional amendments)

Declares any election or ballot issue activity by covered entities to be "ultra vires, void, and unenforceable," meaning such actions cannot be ratified or validated by any legal doctrine

Requires the State Department of Assessments and Taxation to adopt regulations establishing procedures for determining violations, forfeiting and reinstating charter privileges, requiring disgorgement of spent funds, and coordinating enforcement with the Attorney General

Exempts natural persons acting individually, government agencies, and lawfully organized political committees from the restrictions; also exempts bona fide news coverage distributed through independent news organizations

Takes effect October 1, 2026, with a provision that existing obligations and contract rights may not be impaired by the Act