Massachusetts 2023-2024 Regular Session

Massachusetts Senate Bill S430 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	1 of 1
2	2	SENATE DOCKET, NO. 2219 FILED ON: 1/20/2023
3	3	SENATE . . . . . . . . . . . . . . No. 430
4	4	The Commonwealth of Massachusetts
5	5	_________________
6	6	PRESENTED BY:
7	7	Mark C. Montigny
8	8	_________________
9	9	To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
10	10	Court assembled:
11	11	The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:
12	12	An Act to limit political spending by foreign-influenced corporations.
13	13	_______________
14	14	PETITION OF:
15	15	NAME:DISTRICT/ADDRESS :Mark C. MontignySecond Bristol and Plymouth 1 of 4
16	16	SENATE DOCKET, NO. 2219 FILED ON: 1/20/2023
17	17	SENATE . . . . . . . . . . . . . . No. 430
18	18	By Mr. Montigny, a petition (accompanied by bill, Senate, No. 430) of Mark C. Montigny for
19	19	legislation to limit political spending by foreign-influenced corporations. Election Laws.
20	20	[SIMILAR MATTER FILED IN PREVIOUS SESSION
21	21	SEE SENATE, NO. 482 OF 2021-2022.]
22	22	The Commonwealth of Massachusetts
23	23	_______________
24	24	In the One Hundred and Ninety-Third General Court
25	25	(2023-2024)
26	26	_______________
27	27	An Act to limit political spending by foreign-influenced corporations.
28	28	Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority
29	29	of the same, as follows:
30	30	1 SECTION 1. Section 1 of Chapter 55 is hereby amended by inserting the following
31	31	2definitions:-
32	32	3 “Chief executive officer”, the highest-ranking officer or decision-making individual with
33	33	4authority over the corporation’s affairs.
34	34	5 “Corporation”, a for-profit corporation, company, limited liability company, limited
35	35	6partnership, business trust, business association, or other similar for-profit entity.
36	36	7 “Foreign-influenced corporation”, a corporation for which at least one of the following
37	37	8conditions is met: (1) a single foreign owner holds, owns, controls, or otherwise has direct or
38	38	9indirect beneficial ownership of one percent or more of the total equity, outstanding voting
39	39	10shares, membership units, or other applicable ownership interests of the corporation; (2) two or 2 of 4
40	40	11more foreign owners, in aggregate, hold, own, control, or otherwise have direct or indirect
41	41	12beneficial ownership of five percent or more of the total equity, outstanding voting shares,
42	42	13membership units, or other applicable ownership interests of the corporation; or (3) a foreign
43	43	14owner participates directly or indirectly in the corporation’s decision-making process with
44	44	15respect to the corporation’s political activities in the United States.
45	45	16 “Foreign investor”, a person or entity that (1) holds, owns, controls, or otherwise has
46	46	17direct or indirect beneficial ownership of equity, outstanding voting shares, membership units, or
47	47	18other applicable ownership interests of a corporation, and (2) is a government of a foreign
48	48	19country, or a foreign political party, or a partnership, association, corporation, organization, or
49	49	20other combination of persons organized under the laws of or having its principal place of
50	50	21business in a foreign country, or an individual outside the United States who is not a citizen of
51	51	22the United States or a national of the United States and who is not lawfully admitted for
52	52	23permanent residence.
53	53	24 “Foreign owner”, (1) a foreign investor or (2) a corporation wherein a foreign investor
54	54	25holds, owns, controls, or otherwise has directly or indirectly acquired a beneficial ownership of
55	55	26equity or voting shares in an amount that is equal to or greater than 50 percent of the total equity
56	56	27or outstanding voting shares.
57	57	28 SECTION 2. Section 8 of said Chapter 55 is hereby amended by inserting after the
58	58	29second paragraph the following new paragraphs:--
59	59	30 No foreign-influenced corporation shall make an independent expenditure, or an
60	60	31electioneering communication expenditure, or a contribution to an independent expenditure PAC
61	61	32as defined in Section 18A, or a contribution to a ballot question committee, or an expenditure for 3 of 4
62	62	33the purpose of promoting or opposing a charter change, referendum question, constitutional
63	63	34amendment, or other question submitted to the voters.
64	64	35 Any corporation that makes an independent expenditure, or an electioneering
65	65	36communication expenditure, or a contribution to an independent expenditure PAC as defined in
66	66	37section 18A, or a contribution to a ballot question committee, or an expenditure for the purpose
67	67	38of promoting or opposing a charter change, referendum question, constitutional amendment, or
68	68	39other question submitted to the voters, shall, within 7 business days after making such
69	69	40expenditure or contribution, file with the director, a statement of certification, signed by the chief
70	70	41executive officer under penalty of perjury, avowing that, after due inquiry, the corporation was
71	71	42not a foreign-influenced corporation on the date such expenditure or contribution was made.
72	72	43 SECTION 3. Section 18G of Chapter 55 is further amended by inserting after the second
73	73	44sentence of paragraph two the following:--
74	74	45 Unless the individual, corporation, group, association, labor union or other entity making
75	75	46the independent expenditure or electioneering communication has received a statement of
76	76	47certification from each person or entity required to be listed in the top contributors, avowing
77	77	48under penalty of perjury that none of the funds used to make each such person or entity’s
78	78	49contribution were derived from foreign-influenced corporations, the advertisement or
79	79	50communication shall also include the statement: “Some of the funds used to pay for this message
80	80	51may have been provided by foreign-influenced corporations.” The individual, corporation, group,
81	81	52association, labor union or other entity making the independent expenditure or electioneering
82	82	53communication shall be entitled to rely on such a statement of certification provided by the 4 of 4
83	83	54contributor, unless the individual, corporation, group, association, labor union or other entity has
84	84	55actual knowledge that such certification is false.