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: SB 1086'26, SB 1087'26

This bill prohibits Michigan business corporations from using their funds to support or oppose candidates, political parties, committees, or ballot measures. It applies to both companies formed within the state and foreign corporations doing business in Michigan, declaring any such spending illegal and subject to penalties like disgorgement of funds or corporate dissolution. The law includes specific exceptions for existing contracts signed before the bill takes effect and for bona fide news stories published by independent media outlets. Additionally, it grants the Attorney General or the administrator the authority to sue to stop violations or force companies to return illegally spent money.