LD 53 (subjects: ELECTIONS , CAMPAIGN FINANCE )
Sponsors | Bill Text
- Rep. Roberta Beavers of South Berwick: (D – District 2) — e-mail | Facebook
Rep. Lydia Blume of York: (D – District 3) — e-mail | Twitter | Facebook
Rep. Anne-Marie Mastraccio of Sanford: (D – District 18) — e-mail
Rep. Denise Harlow of Portland: (D – District 36) — e-mail
Rep. Ben Chipman of Portland: (I – District 40) — e-mail | Twitter | Facebook
Rep. Peter Stuckey of Portland: (D – District 42) — e-mail
Rep. Jeffrey Evangelos of Friendship: (I – District 91) — e-mail | Facebook
Rep. Adam Goode of Bangor: (D – District 127) — e-mail | Twitter
Rep. Richard Campbell of Orrington: (R – District 130) — e-mail | Facebook
Sen. Geoffrey Gratwick of Penobscot: (D – District 9) — e-mail | Twitter | Facebook
An Act To Require Shareholder Consent for Corporate Political Contributions
Sec. 1. 13-C MRSA 305 ?is enacted to read:
305. ? Political contributions
This bill requires a majority vote of a corporation’s shareholders before the corporation makes a political contribution or expenditure and requires that once the contribution or expenditure has been made, the corporation posts notice of the contribution or expenditure on its website. This bill disallows a corporation that has over half of its shares owned by one or more institutional investors who cannot hold public office, such as a pension fund or a for-profit or nonprofit corporation, from making any political contributions or expenditures. This bill also allows a shareholder who disagrees with a corporation’s political contribution or expenditure to receive from the corporation upon request a rebate of a percentage of the political contribution or expenditure equal to the percentage of ownership the shareholder has in the corporation.
This information about LD 53 was last updated on 2015-03-20.
The Open Maine Politics website is in a beta release and results should not be taken as definitive. Please visit the official website of the Maine State Legislature for entirely verifiable information.