April 20, 2010, Introduced by Reps. Miller, Espinoza and Liss and referred to the Committee on Ethics and Elections.
A bill to amend 1976 PA 388, entitled
"Michigan campaign finance act,"
by amending section 54 (MCL 169.254), as amended by 1995 PA 264.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 54. (1) Except with respect to the exceptions and
conditions in subsections (2) and (3) and section 55, and to loans
made in the ordinary course of business, a corporation, joint stock
company, domestic dependent sovereign, or labor organization shall
not
make a contribution or expenditure or provide volunteer
personal services that are excluded from the definition of a
contribution pursuant to section 4(3)(a).
(2) An officer, director, stockholder, attorney, agent, or any
other person acting for a labor organization, a domestic dependent
sovereign, or a corporation or joint stock company, whether
incorporated under the laws of this or any other state or foreign
country, except corporations formed for political purposes, shall
not
make a contribution or expenditure or provide volunteer
personal services that are excluded from the definition of a
contribution pursuant to section 4(3)(a).
(3) A corporation, joint stock company, domestic dependent
sovereign, or labor organization may make a contribution to a
ballot
question committee subject to this act. A
(4) Subject to subsection (5), a corporation, joint stock
company, domestic dependent sovereign, or labor organization may
make
an independent expenditure. in any amount for the
qualification,
passage, or defeat of a ballot question. A
corporation,
joint stock company, domestic dependent sovereign, or
labor
organization that makes an independent expenditure under this
subsection
is considered a ballot question committee for the
purposes
of this act.
(5) A corporation may make an independent expenditure only if
it discloses the amount and nature of the independent expenditure
to each shareholder and a majority of the shareholders
affirmatively consent to the independent expenditure.
(6) (4)
A person who knowingly violates
this section is guilty
of a felony punishable, if the person is an individual, by a fine
of not more than $5,000.00 or imprisonment for not more than 3
years, or both, or, if the person is not an individual, by a fine
of not more than $10,000.00.