Vote Smart's Synopsis:

Vote to pass a bill that prohibits corporations and joint stock companies from making independent expenditures if they are too closely affiliated with a foreign country.

Highlights:

-Prohibits a corporation or joint stock company from making an independent expenditure if that corporation or joint stock company meets any of the following conditions (Sec. 55D):

-Is incorporated in, organized under the laws of, or created by the laws of a foreign country; -Is a subsidiary, affiliate, division, or joint venture of a corporation or joint stock company incorporated in, organized under the laws of, or created by the laws of a foreign country; -Has received funds from any source in a foreign country, except funds received as bona fide payment for goods or services sold by the corporation or joint stock company in a foreign country; -A foreign national owns or controls 20 percent or more of the voting shares of the corporation or joint stock company; -A majority of the members of the board of directors of the corporation or joint stock company are foreign nationals; -One or more foreign nationals have the power to direct, dictate, or control the decision-making process of the corporation or joint stock company with respect to its interests in the United States; or -One or more foreign nationals have the power to direct, dictate, or control the decision-making process of the corporation or joint stock company with respect to activities in connection with a federal, state, or local election, including the making of an independent expenditure.

-Prohibits a person from making an independent expenditure using funds that the person has received from a corporation or joint stock company prohibited from making an independent expenditure under this act, not including salary or compensation received from that person's employment with a corporation or joint stock company (Sec. 55D). -Specifies that this amendatory act does not take effect unless all of the following bills of the 95th Legislature are enacted into law: HB 6182, HB 6183; HB 6184; HB 6185; HB 6187; and HB 6188 (Sec. 1).

Full Bill Text