An Act amending the act of June 3, 1937 (P.L.1333, No.320), known as the Pennsylvania Election Code, providing for corporate political contributions; and imposing penalties.

HB 497 would amend Pennsylvania's Election Code to ban foreign-influenced corporations from making political contributions or expenditures. A "foreign-influenced corporation" is defined as one where a foreign investor (such as a foreign government or entity) owns 1% or more of its equity (or 5% in aggregate) or influences its U.S. political activities. The bill prohibits these corporations from contributing to candidates, political parties, committees, or ballot questions, or spending money to support or oppose elections. Violations would trigger penalties under the Election Code, directly affecting corporations meeting the foreign-influence criteria.