RELATING TO CORPORATIONS.

HB 149 requires domestic and foreign corporations operating in the state to provide shareholders with annual reports detailing the corporation's independent political expenditures and contributions. This directly affects corporations that make political spending and their shareholders, who gain transparency into how company funds are used in political activities. The key provision mandates that corporations disclose specific details about political spending to shareholders annually, rather than reporting to government agencies. The bill focuses on increasing shareholder oversight of corporate political spending without altering campaign finance rules for candidates or political committees.