2025 SESSION
ENGROSSED
25102736D
SENATE BILL NO. 1050
Senate Amendments in [ ] - January 31, 2025
A BILL to amend the Code of Virginia by adding in Article 1 of Chapter 9.3 of Title 24.2 a section numbered 24.2-945.3, relating to campaign finance; contributions from corporations prohibited; civil penalty.
Patron Prior to EngrossmentSenator Roem
Referred to Committee on Privileges and Elections
Be it enacted by the General Assembly of Virginia:
1. That the Code of Virginia is amended by adding in Article 1 of Chapter 9.3 of Title 24.2 a section numbered 24.2-945.3 as follows:
24.2-945.3. Contributions from corporations prohibited; civil penalty.
A. No corporation that is organized under the laws of the United States or the laws of the Commonwealth or any state shall make any contribution to any [ committee organized under the provisions of this chapter candidate, campaign committee, political action committee, or political party committee ] . No such committee shall solicit or accept any contribution from any such corporation.
B. For the purposes of applying the prohibition set forth in this section, all direct or indirect contributions made by a corporation, including any designated contributions or contributions otherwise explicitly directed through any other person or committee for such purpose, shall be deemed to be contributions from such corporation to such committee.
C. For the purposes of applying the prohibition set forth in this section, any contribution or portion thereof that is returned to the contributor within 60 days after receipt shall be deemed to have not been accepted.
D. Any committee that knowingly accepts, or any person who knowingly makes to such committee, contributions in violation of the prohibition set forth in this section shall be subject to a civil penalty of up to two times the amount of the contribution. The State Board shall assess and collect such civil penalties, which shall be payable to the State Treasurer for deposit into the general fund.