Shareholder Political Transparency Act of 2023

Bill 118 HR 4863, also known as the Shareholder Political Transparency Act of 2023, aims to increase transparency and accountability in corporate political spending. The bill requires publicly traded companies to disclose their political expenditures to their shareholders and the public.

Under the provisions of the bill, companies must disclose any contributions made to political candidates, parties, or organizations, as well as any independent expenditures or electioneering communications. This information must be reported to the Securities and Exchange Commission (SEC) on a quarterly basis and made available on the company's website.

The bill also requires companies to obtain approval from their shareholders before making any political contributions or expenditures. Shareholders must be given the opportunity to vote on whether they agree with the company's political spending decisions. Additionally, the bill prohibits companies from using corporate funds for political purposes without the approval of their shareholders. This includes using funds for lobbying activities or making contributions to political action committees (PACs). Overall, the Shareholder Political Transparency Act of 2023 aims to promote transparency and accountability in corporate political spending, ensuring that shareholders are informed about how their investments are being used for political purposes.