Bill Text: VA HB2092 | 2019 | Regular Session | Prefiled
Bill Title: Campaign finance; direct contributions from corporations and business entities prohibited.
Spectrum: Partisan Bill (Democrat 7-0)
Status: (Introduced - Dead) 2019-02-05 - Left in Privileges and Elections [HB2092 Detail]
Download: Virginia-2019-HB2092-Prefiled.html
Be it enacted by the General Assembly of Virginia:
1. That §24.2-949.1 of the Code of Virginia is amended and reenacted and that the Code of Virginia is amended by adding a section numbered 24.2-947.3:2 as follows:
§24.2-947.3:2. Contributions from corporations and business entities prohibited.
A corporation or business entity that has not established and is not acting as a political action committee pursuant to Article 4 (§ 24.2-949 et seq.) shall not make any contribution to a candidate or campaign committee, and no candidate or campaign committee shall knowingly solicit or accept any contribution from any corporation or business entity.
For purposes of this section, "business entity" means a limited liability company, partnership, limited partnership, or business trust, and "corporation" means a domestic or foreign stock corporation or a nonstock corporation.
§24.2-949.1. Establishment of political action committees by certain entities.
Any stock or nonstock business entity, corporation,
labor organization, membership organization, cooperative, or other group of
persons may establish and administer for political purposes, and solicit and
expend contributions for, a political action committee, provided that:
1. No political action committee shall make a contribution or expenditure by utilizing (i) money or anything of value secured by physical force, job discrimination, financial reprisal, or threat of force, job discrimination, or financial reprisal, or as a condition of employment or (ii) in the case of a political action committee established and administered by a business entity or corporation, business or corporate funds obtained in any commercial transaction.
2. Any person soliciting a contribution to a political action committee shall, at the time of solicitation, inform the person being solicited of (i) his right to refuse to contribute without any reprisal and (ii) the political purposes of the committee.
For purposes of this section, "business entity" means a limited liability company, partnership, limited partnership, or business trust, and "corporation" means a domestic or foreign stock corporation or a nonstock corporation.
