RELATING TO CORPORATIONS.

HB 149 requires domestic and foreign corporations operating in the state to provide shareholders with annual reports detailing their political spending, including independent expenditures and contributions to candidates or causes. This directly affects all corporations subject to state jurisdiction, mandating transparency about their political activity. The key provision is the requirement for these reports to be shared with shareholders, increasing visibility into corporate political influence. The bill aims to clarify corporate political spending practices without altering campaign finance rules.