HB 3317
Requires a publicly traded corporation that makes a political expenditure of more than $100 in a calendar year to first obtain approval for the political expenditure from shareholders by an affirmative vote of the majority of shares entitled to vote.
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill requires publicly traded corporations in Oregon to obtain approval from their shareholders before making political expenditures exceeding $100 in a calendar year. Corporations must also publicly disclose details about these expenditures, including the amount, recipient, and purpose. Additionally, directors and officers must disclose any personal financial interests related to these expenditures. Failure to comply with these requirements could result in penalties and liability for individuals.
Key provisions
- Shareholder approval is required for political expenditures over $100.
- Corporations must publicly disclose details of political expenditures.
- Directors and officers must disclose economic interests related to political expenditures.
- The Department of Revenue will disallow tax credits for non-compliance.
- Individuals who make political expenditures without shareholder approval may be personally liable to the corporation.
- Foreign publicly traded corporations must comply with the disclosure requirements if they make expenditures within Oregon.
- The law takes effect on January 1, 2026.
Who is affected
- Publicly traded corporations
- Shareholders of publicly traded corporations
- Directors and officers of publicly traded corporations
- Oregon residents and businesses impacted by corporate political spending
Notable changes
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