NY A02463

Requires corporations to obtain majority shareholder approval before making any political expenditures, with shareholders authorizing the total amount for a specific fiscal year and directing which candidates, parties, committees, 501(c)(4)/(6) organizations, or ballot questions may receive funds

Mandates corporations notify shareholders within 48 hours of any political expenditure via electronic transmission and website posting, including the amount, recipient, date, and purpose

Requires annual reports to list all political expenditures made during the reporting period with full details

Allows dissenting shareholders to request a pro rata rebate of their ownership percentage of any political expenditure they disagree with

Prohibits political expenditures entirely if a majority of shares are owned by entities that cannot take political positions, such as pension funds, mutual funds, insurance companies, foundations, churches, and universities