MI HB5350

Adds Section 55b to the Michigan Campaign Finance Act (MCL 169.201 to 169.282) to regulate corporate independent expenditures.

Requires corporations and joint stock companies to disclose the amount and nature of independent expenditures to all shareholders or members at least 30 days before making the expenditure.

Mandates majority affirmative written consent from shareholders or members before a corporation or joint stock company can make an independent expenditure.

Requires corporations and joint stock companies to maintain compliance records that must be promptly provided to any Michigan elector who requests them.

Act takes effect only if House Bills 5348, 5352, and 5354 (and one additional bill with request number 01997'11) are also enacted into law during the 96th Legislature.