VT S0322

Prohibits all Vermont business entities—including corporations, LLCs, limited partnerships, limited liability partnerships, cooperative associations, worker cooperatives, nonprofit corporations, and mutual benefit enterprises—from spending money on "election activity" (supporting/opposing candidates, parties, or political committees) or "ballot-issue activity" (supporting/opposing ballot measures)

Revokes all prior corporate powers granted under Vermont law as of December 31, 2026, and regrants only "artificial-person powers" that expressly exclude election and ballot-issue spending, with the law taking effect January 1, 2027

Declares any corporate election or ballot-issue spending "ultra vires and void," with penalties including forfeiture of charter privileges for business and nonprofit corporations, and required payment to the State Treasurer equal to the amount unlawfully spent

Exempts bona fide news organizations, de minimis endorsement communications, lobbying on legislation before it reaches the ballot, and de minimis administrative support for political committees; also preserves the ability of nonprofit corporations operating primarily as political committees or parties to engage in permitted political activity

Grants the Secretary of State rulemaking authority to define key terms including what constitutes "de minimis" use of corporate resources