| 6 | 6 | | 1.6 subdivisions. |
|---|
| 7 | 7 | | 1.7BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: |
|---|
| 8 | 8 | | 1.8 Section 1. Minnesota Statutes 2022, section 10A.27, subdivision 11, is amended to read: |
|---|
| 9 | 9 | | 1.9 Subd. 11.Contributions from certain types of contributors.(a) A candidate must not |
|---|
| 10 | 10 | | 1.10permit the candidate's principal campaign committee to accept a contribution from a political |
|---|
| 11 | 11 | | 1.11committee, political fund, lobbyist, or association not registered with the board if the |
|---|
| 12 | 12 | | 1.12contribution will cause the aggregate contributions from those types of contributors during |
|---|
| 13 | 13 | | 1.13an election cycle segment to exceed an amount equal to 20 percent of the election cycle |
|---|
| 14 | 14 | | 1.14segment expenditure limits for the office sought by the candidate, provided that the 20 |
|---|
| 15 | 15 | | 1.15percent limit must be rounded to the nearest $100. |
|---|
| 16 | 16 | | 1.16 (b) A candidate must not permit the candidate's principal campaign committee to accept |
|---|
| 17 | 17 | | 1.17a contribution that is prohibited by section 211B.15. |
|---|
| 18 | 18 | | 1.18 Sec. 2. Minnesota Statutes 2022, section 211B.15, subdivision 1, is amended to read: |
|---|
| 19 | 19 | | 1.19 Subdivision 1.Definitions.(a) For purposes of this section, the terms defined in this |
|---|
| 20 | 20 | | 1.20subdivision have the meanings given. Unless otherwise provided, the definitions in section |
|---|
| 21 | 21 | | 1.2110A.01 also apply to this section. |
|---|
| 22 | 22 | | 1.22 (b) "Chief executive officer" means the highest-ranking officer or decision-making |
|---|
| 23 | 23 | | 1.23individual with authority over a corporation's affairs. |
|---|
| 24 | 24 | | 1Sec. 2. |
|---|
| 51 | | - | 2.15 (3) a foreign investor participates directly or indirectly in the corporation's |
|---|
| 52 | | - | 2.16decision-making process with respect to the corporation's political activities in the United |
|---|
| 53 | | - | 2.17States. |
|---|
| 54 | | - | 2.18 (e) "Foreign investor" means a person or entity that: |
|---|
| 55 | | - | 2.19 (1) holds, owns, controls, or otherwise has direct or indirect beneficial ownership of |
|---|
| 56 | | - | 2.20equity, outstanding voting shares, membership units, or otherwise applicable ownership |
|---|
| 57 | | - | 2.21interests of a corporation; and |
|---|
| 58 | | - | 2.22 (2) is any of the following: (i) a government of a foreign country; (ii) a political party |
|---|
| 59 | | - | 2.23organized in a foreign country; (iii) a partnership, association, corporation, organization, |
|---|
| 60 | | - | 2.24or other combination of persons organized under the laws of or having its principal place |
|---|
| 61 | | - | 2.25of business in a foreign country; (iv) an individual outside of the United States who is not |
|---|
| 62 | | - | 2.26a citizen or national of the United States and who is not lawfully admitted for permanent |
|---|
| 63 | | - | 2.27residence in the United States; or (v) a corporation in which a foreign investor, as defined |
|---|
| 64 | | - | 2.28in this paragraph, holds, owns, controls, or otherwise has directly or indirectly acquired |
|---|
| 65 | | - | 2.29beneficial ownership of equity or voting shares in an amount that is equal to or greater than |
|---|
| 66 | | - | 2.3050 percent of the total equity or outstanding voting shares. |
|---|
| 47 | + | 2.15 (3) a foreign owner participates directly or indirectly in the corporation's decision-making |
|---|
| 48 | + | 2.16process with respect to the corporation's political activities in the United States. |
|---|
| 49 | + | 2.17 (e) "Foreign investor" means a person or entity that: |
|---|
| 50 | + | 2.18 (1) holds, owns, controls, or otherwise has direct or indirect beneficial ownership of |
|---|
| 51 | + | 2.19equity, outstanding voting shares, membership units, or otherwise applicable ownership |
|---|
| 52 | + | 2.20interests of a corporation; and |
|---|
| 53 | + | 2.21 (2) is a government of a foreign country; a political party organized in a foreign country; |
|---|
| 54 | + | 2.22a partnership, association, corporation, organization, or other combination of persons |
|---|
| 55 | + | 2.23organized under the laws of or having its principal place of business in a foreign country; |
|---|
| 56 | + | 2.24or an individual who is not a citizen or national of the United States and who is not lawfully |
|---|
| 57 | + | 2.25admitted for permanent residence in the United States. |
|---|
| 58 | + | 2.26 (f) "Foreign owner" means: |
|---|
| 59 | + | 2.27 (1) a foreign investor; or |
|---|
| 60 | + | 2.28 (2) a corporation in which a foreign investor holds, owns, controls, or otherwise has |
|---|
| 61 | + | 2.29directly or indirectly acquired beneficial ownership of equity or voting shares in an amount |
|---|
| 62 | + | 2.30that is equal to or greater than 50 percent of the total equity or outstanding voting shares. |
|---|
| 77 | | - | 3.10public office or to a candidate's principal campaign committee; or |
|---|
| 78 | | - | 3.11 (4) make a contribution to a political committee, political fund, or political party unit. |
|---|
| 79 | | - | 3.12 (b) A foreign-influenced corporation must not make a contribution or donation to any |
|---|
| 80 | | - | 3.13other person with the express or implied condition that the contribution or any part of it be |
|---|
| 81 | | - | 3.14used for any of the purposes prohibited by this subdivision. |
|---|
| 82 | | - | 3.15 Sec. 4. Minnesota Statutes 2022, section 211B.15, is amended by adding a subdivision to |
|---|
| 83 | | - | 3.16read: |
|---|
| 84 | | - | 3.17 Subd. 4b.Certification of compliance with subdivision 4a.A corporation, as defined |
|---|
| 85 | | - | 3.18in subdivision 1, paragraph (c), clause (1) or (3), that makes a contribution or expenditure |
|---|
| 86 | | - | 3.19authorized by subdivision 3 or 4 must, within seven business days after the contribution or |
|---|
| 87 | | - | 3.20expenditure is made, submit a certification to the Campaign Finance and Public Disclosure |
|---|
| 88 | | - | 3.21Board that it was not a foreign-influenced corporation as of the date the contribution or |
|---|
| 89 | | - | 3.22expenditure was made. The certification must be signed by the corporation's chief executive |
|---|
| 90 | | - | 3.23officer after reasonable inquiry, under penalty of perjury. If the activity requiring certification |
|---|
| 91 | | - | 3.24was a contribution to an independent expenditure committee, the corporation must |
|---|
| 92 | | - | 3.25additionally provide a copy of the certification to that committee. For purposes of this |
|---|
| 93 | | - | 3.26certification, the corporation shall ascertain beneficial ownership in a manner consistent |
|---|
| 94 | | - | 3.27with chapter 302A or, if it is registered on a national securities exchange, as set forth in |
|---|
| 95 | | - | 3.28Code of Federal Regulations, title 17, sections 240.13d-3 and 240.13d-5. The corporation |
|---|
| 96 | | - | 3.29shall provide a copy of the statement of certification to any candidate or committee to which |
|---|
| 97 | | - | 3.30it contributes and, upon request of the recipient, to any other person to which it contributes. |
|---|
| 98 | | - | 3Sec. 4. |
|---|
| 99 | | - | REVISOR JFK H0117-1HF117 FIRST ENGROSSMENT 4.1 Sec. 5. Minnesota Statutes 2022, section 211B.15, subdivision 7b, is amended to read: |
|---|
| 100 | | - | 4.2 Subd. 7b.Knowing violations.An individual or a corporation knowingly violates this |
|---|
| 101 | | - | 4.3section if, at the time of a transaction, the individual or the corporation knew: |
|---|
| 102 | | - | 4.4 (1) that the transaction causing the violation constituted a contribution under chapter |
|---|
| 103 | | - | 4.510A, 211A, or 383B; and |
|---|
| 104 | | - | 4.6 (2) that the contributor was a corporation subject to the prohibitions of subdivision 2 or |
|---|
| 105 | | - | 4.74a. |
|---|
| 106 | | - | 4.8 Sec. 6. EFFECTIVE DATE. |
|---|
| 107 | | - | 4.9 This act is effective July 1, 2023, and applies to contributions, expenditures, and other |
|---|
| 108 | | - | 4.10applicable activities occurring on or after that date. |
|---|
| 109 | | - | 4Sec. 6. |
|---|
| 110 | | - | REVISOR JFK H0117-1HF117 FIRST ENGROSSMENT |
|---|
| 73 | + | 3.10public office or to a candidate's principal campaign committee; |
|---|
| 74 | + | 3.11 (4) make a contribution to a political committee, political fund, or political party unit; |
|---|
| 75 | + | 3.12or |
|---|
| 76 | + | 3.13 (5) take any action to publicly endorse or oppose a candidate for nomination, election, |
|---|
| 77 | + | 3.14or appointment to a public office, or to endorse or oppose a ballot question or other issue |
|---|
| 78 | + | 3.15of public concern. |
|---|
| 79 | + | 3.16 (b) Notwithstanding subdivisions 8 to 11, a foreign-influenced corporation is prohibited |
|---|
| 80 | + | 3.17from engaging in the activities otherwise authorized by those subdivisions. |
|---|
| 81 | + | 3.18 Sec. 4. Minnesota Statutes 2022, section 211B.15, is amended by adding a subdivision to |
|---|
| 82 | + | 3.19read: |
|---|
| 83 | + | 3.20 Subd. 4b.Certification of compliance with subdivision 4a.A corporation that makes |
|---|
| 84 | + | 3.21a contribution or expenditure authorized by subdivision 3 or 4 must, within seven business |
|---|
| 85 | + | 3.22days after the contribution or expenditure is made, submit a certification to the Campaign |
|---|
| 86 | + | 3.23Finance and Public Disclosure Board that it was not a foreign-influenced corporation as of |
|---|
| 87 | + | 3.24the date the contribution or expenditure was made. The certification must be signed by the |
|---|
| 88 | + | 3.25corporation's chief executive officer after reasonable inquiry, under penalty of perjury. If |
|---|
| 89 | + | 3.26the activity requiring certification was a contribution to an independent expenditure |
|---|
| 90 | + | 3.27committee, the corporation must additionally provide a copy of the certification to that |
|---|
| 91 | + | 3.28committee. |
|---|
| 92 | + | 3.29 Sec. 5. Minnesota Statutes 2022, section 211B.15, subdivision 7, is amended to read: |
|---|
| 93 | + | 3.30 Subd. 7.Penalty for corporations.(a) A corporation that violates this section is subject |
|---|
| 94 | + | 3.31to a civil penalty of up to ten times the amount of the violation, but in no case more than |
|---|
| 95 | + | 3Sec. 5. |
|---|
| 96 | + | REVISOR JFK/HL 23-0055201/03/23 4.1$10,000, imposed by the Campaign Finance and Public Disclosure Board under chapter |
|---|
| 97 | + | 4.210A or imposed by the Office of Administrative Hearings under this chapter. |
|---|
| 98 | + | 4.3 (b) Knowingly violating this section is a crime. A corporation convicted of knowingly |
|---|
| 99 | + | 4.4violating this section is subject to a fine not greater than $40,000. A convicted domestic |
|---|
| 100 | + | 4.5corporation may be dissolved as well as fined. If a foreign, foreign-influenced, or nonresident |
|---|
| 101 | + | 4.6corporation is convicted, in addition to being fined, its right to do business in this state may |
|---|
| 102 | + | 4.7be declared forfeited. |
|---|
| 103 | + | 4.8 Sec. 6. Minnesota Statutes 2022, section 211B.15, subdivision 7b, is amended to read: |
|---|
| 104 | + | 4.9 Subd. 7b.Knowing violations.An individual or a corporation knowingly violates this |
|---|
| 105 | + | 4.10section if, at the time of a transaction, the individual or the corporation knew: |
|---|
| 106 | + | 4.11 (1) that the transaction causing the violation constituted a contribution under chapter |
|---|
| 107 | + | 4.1210A, 211A, or 383B; and |
|---|
| 108 | + | 4.13 (2) that the contributor was a corporation subject to the prohibitions of subdivision 2 or |
|---|
| 109 | + | 4.144a. |
|---|
| 110 | + | 4.15 Sec. 7. EFFECTIVE DATE. |
|---|
| 111 | + | 4.16 This act is effective July 1, 2023, and applies to contributions, expenditures, and other |
|---|
| 112 | + | 4.17applicable activities occurring on or after that date. |
|---|
| 113 | + | 4Sec. 7. |
|---|
| 114 | + | REVISOR JFK/HL 23-0055201/03/23 |
|---|