MI HB5352

Prohibits corporations and joint stock companies from making independent expenditures if they are incorporated in, organized under, or created by the laws of a foreign country.

Prohibits independent expenditures by corporations that are subsidiaries, affiliates, divisions, or joint ventures of foreign corporations, or that have received funds from foreign sources (except for bona fide payment for goods or services sold in foreign countries).

Prohibits independent expenditures by corporations where a foreign national owns or controls 20% or more of voting shares, where a majority of board members are foreign nationals, or where foreign nationals control decision-making regarding U.S. interests or election activities.

Prohibits any person from making independent expenditures using funds received from a corporation prohibited under this section (except for normal employment salary or compensation).

Defines "foreign national" as non-U.S. citizens, foreign governments or political subdivisions, and non-U.S. incorporated entities, and ties enactment to passage of related bills HB 5348, HB 5350, HB 5353, and HB 5354.