A01418 Summary: Corporate Political Activity Accountability to Shareholders Act

• Requires corporations, foreign corporations, professional service corporations, cooperative corporations, not-for-profit corporations, railroad corporations, transportation corporations, banking corporations, and limited liability companies to obtain annual shareholder approval by majority vote before making political contributions or independent expenditures.

• Defines "contribution" to include gifts, loans, advances, and things of value to political committees, candidates, parties, referendums, and electioneering communications, and defines "independent expenditure" as communications to 500+ people advocating for or against candidates or ballot proposals.

• Mandates annual disclosure to shareholders and filing with the Secretary of State detailing the date, amount, and recipient/purpose of all political contributions and independent expenditures.

• Requires the Secretary of State to post each organization's annual political spending disclosures on its website for public access.

• Grants the Attorney General authority to enforce these provisions through civil actions or special proceedings.