Bill Text: MI HB5351 | 2011-2012 | 96th Legislature | Introduced

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Bill Title: Campaign finance; contributions and expenditures; certain independent expenditures by corporations; prohibit. Amends 1976 PA 388 (MCL 169.201 - 169.282) by adding sec. 55c.

Spectrum: Partisan Bill (Democrat 31-0)

Status: (Introduced - Dead) 2012-03-29 - Re-referred To Committee On Redistricting And Elections [HB5351 Detail]

Download: Michigan-2011-HB5351-Introduced.html

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HOUSE BILL No. 5351

 

 

February 2, 2012, Introduced by Reps. Bledsoe, Dillon, Byrum, Darany, Lipton, Slavens, Brunner, Segal, Olumba, Geiss, Tlaib, Hovey-Wright, Durhal, Stallworth, Nathan, Ananich, Lindberg, Kandrevas, Switalski, Rutledge, Bauer, Townsend, Liss, Hammel, Meadows, Cavanagh, McCann, Irwin, Howze and Brown and referred to the Committee on Redistricting and Elections.

 

     A bill to amend 1976 PA 388, entitled

 

"Michigan campaign finance act,"

 

(MCL 169.201 to 169.282) by adding section 55c.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 55c. (1) A corporation or joint stock company that has

 

entered into a contract with this state or any political

 

subdivision of this state, that has received a grant funded in

 

whole or in part by this state or any political subdivision of this

 

state, or that has received a tax incentive or tax credit from this

 

state or any political subdivision of this state shall not make an

 

independent expenditure until that contract, grant, incentive, or

 

credit has expired. A corporation or joint stock company that has

 

applied for, submitted a bid for, or requested a contract, grant,

 

or tax incentive or credit as described in this subsection, or any

 

renewal or extension thereof, shall not make an independent

 

expenditure while the application, bid, or request is pending.

 

     (2) A corporation or joint stock company that accepts federal

 

financial assistance under the federal troubled asset relief

 

program or any similar federal program shall not make an

 

independent expenditure until it repays any federal financial

 

assistance received from that program. As used in this subsection,

 

"troubled asset relief program" means the troubled asset relief

 

program established under 12 USC 5211.