Businesses: business corporations; power of corporations to spend in elections or ballot issues; revoke. Amends secs. 261, 271, 821, 1012 & 1041 of 1972 PA 284 (MCL 450.1261 et seq.) & adds sec. 261a. TIE BAR WITH: HB 6216'26, HB 6217'26

HB 6218 amends the Michigan Business Corporation Act to explicitly prohibit corporations from spending money to support or oppose candidates, political parties, committees, or ballot questions. This new restriction, added as Section 261a, applies to both domestic and foreign corporations operating in the state and declares any such spending invalid. While corporations retain the ability to make donations for charitable, educational, or public welfare purposes, they cannot use funds for direct political advocacy. The bill also outlines penalties for violations, including potential dissolution for domestic corporations or revocation of business authority for foreign ones, and grants the attorney general the power to seek legal remedies to enforce these limits.