General Assembly Proposed Bill No. 6102
January Session, 2015 LCO No. 1923
*01923*
Referred to Committee on GOVERNMENT ADMINISTRATION AND ELECTIONS
Introduced by:
REP. HADDAD, 54th Dist.
General Assembly
Proposed Bill No. 6102
January Session, 2015
LCO No. 1923
*01923*
Referred to Committee on GOVERNMENT ADMINISTRATION AND ELECTIONS
Introduced by:
REP. HADDAD, 54th Dist.
AN ACT CONCERNING CERTAIN POLITICAL SPENDING BY BUSINESS ENTITIES.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That chapter 155 of the general statutes be amended to require that any contribution or expenditure made by a political committee established by a business entity shall: (1) Only be made by majority vote of the shareholders of such business entity (A) authorizing such contribution or expenditure by management, and (B) expressing the political preferences of the shareholders; (2) be published, with the details of such contribution or expenditure, on the Internet web site of such business entity no later than forty-eight hours after such contribution or expenditure is made; (3) not be made if a majority of the shares of such business entity is controlled or owned by any institutional investor prohibited from taking political positions, including, but not limited to, a state or local government-funded pension, a mutual fund, an insurance company, a foundation, a church, or a university; (4) only be made if a shareholder has the right to request a pro rata rebate for that percentage of such shareholder's investment spent on any such contribution or expenditure that such shareholder opposes.
Statement of Purpose:
To protect shareholders' rights and mandate certain disclosures of political spending by business entities.