118 S3173 IS: Ending Corporate Influence on Elections Act of 2023 U.S. Senate 2023-10-31 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

II118th CONGRESS1st SessionS. 3173IN THE SENATE OF THE UNITED STATESOctober 31, 2023Mr. Hawley introduced the following bill; which was read twice and referred to the Committee on Rules and AdministrationA BILLTo amend the Federal Election Campaign Act of 1971 to prohibit contributions and donations by publicly traded corporations.

1.

Short title

This Act may be cited as the Ending Corporate Influence on Elections Act of 2023.

2.

Prohibiting contributions and donations by publicly traded corporations

Title III of the Federal Election Campaign Act (52 U.S.C. 30101 et seq.) is amended by adding at the end the following new section:

325.

Contributions and donations by publicly traded corporations

(a)

In general

It shall be unlawful for—(1)a publicly traded corporation, directly or indirectly, to make—(A)a contribution or donation of money or other thing of value, or to make an express or implied promise to make a contribution or donation, in connection with a Federal election;(B)a contribution or donation to a political committee that accepts donations or contributions that do not comply with the contribution limits or source prohibitions under this Act; or(C)an expenditure, independent expenditure, or disbursement for an electioneering communication (within the meaning of section 304(f)(3)); or(2)a person to solicit, accept, or receive a contribution or donation described in subparagraph (A) or (B) of paragraph (1) from a publicly traded corporation.(b)

Publicly traded corporation defined

(1)

In general

As used in this section, the term publicly traded corporation means—(A)an entity the securities of which are listed on a national securities exchange which is registered under section 6 of the Securities Exchange Act of 1934 (15 U.S.C. 78f); or(B)an affiliate of an entity described in subparagraph (A).(2)

Affiliate defined

As used in paragraph (1)(B), the term affiliate means any entity that controls, is controlled by, or is under common control with another entity.

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