Businesses: limited liability companies; power of limited liability companies to spend in elections or ballot issues; revoke. Amends secs. 105, 210, 211 & 1008 of 1993 PA 23 (MCL 450.4105 et seq.) & adds sec. 210a. TIE BAR WITH: SB 1085'26, SB 1086'26

This bill prohibits limited liability companies in Michigan from spending money to support or oppose candidates, political parties, or ballot measures. It applies to both companies formed in the state and those from other states doing business here, with exceptions for existing contracts and bona fide news reporting. If a company violates this rule, the state can invalidate the spending, order the company to return the funds, or dissolve the company. The legislation also clarifies that a company's lack of legal power to make political donations does not automatically make all its other business actions invalid. This measure is tied to two other bills and will only take effect if all three are passed into law.