SECTION 1 (TITLE):
This act shall be known as the Corporate Political Accountability Act.

SECTION 2 (PURPOSE):
This act amends the corporations law to require shareholder approval and public disclosure of corporate political expenditures.

SECTION 3 (PROVISIONS):

(a) A corporation or any of its subsidiaries may not use its money or other property in connection with a political contribution or independent expenditure unless the shareholders of the corporation, by the affirmative vote of a majority of all votes entitled to be cast, have:

(b) Any corporation, either by itself or its subsidiaries, making a contribution or independent expenditure shall at least annually disclose to its shareholders and file with the secretary of state an accounting of the contributions and independent expenditures used for such purposes, including:

(c) The secretary of state shall post each corporation's annual disclosure on the website maintained by the secretary of state.

(d) Whenever it appears to the Attorney General that any person has engaged in any act or practice constituting a violation of any provision of this section, the attorney general may bring an action to obtain one or more of the following remedies: