California "Corporate Political Accountability" Initiative (2012)

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A California "Corporate Political Accountability" Initiative (#11-0097) was approved for circulation in California as a contender for the November 6, 2012 ballot.

Its sponsors, however, did not submit any signatures to election officials by the deadline.

If the initiative had qualified for the ballot and been approved by the state's voters, it would have:

  • Prohibited corporations and other business entities from making contributions or expenditures for political activities without shareholders' prior informed approval.
  • Reduced the total amount of any contribution or expenditure approved by the percentage of shares not voted for approval.
  • Defined political activities to include those related to candidates, ballot measures, issue advocacy, political parties, committees, voter registration, or any other political or legislative causes.
  • Imposed criminal penalties for violations against persons spending, consenting to, or receiving prohibited contributions or expenditures.
  • Required detailed reporting to shareholders.

Text of measure

See also: Ballot titles, summaries and fiscal statements for California's 2012 ballot propositions

Ballot title:

Political Contributions and Expenditures by Corporations. Shareholder Approval. Initiative Statute.

Official summary:

"Prohibits corporations and other business entities from making contributions or expenditures for political activities without shareholders' prior informed approval. Reduces the total amount of any contribution or expenditure approved by the percentage of shares not voted for approval. Defines political activities to include those related to candidates, ballot measures, issue advocacy, political parties, committees, voter registration, or any other political or legislative causes. Imposes criminal penalties for violations against persons spending, consenting to, or receiving prohibited contributions or expenditures. Requires detailed reporting to shareholders."

Fiscal impact statement:

(Note: The fiscal impact statement for a California ballot initiative authorized for circulation is jointly prepared by the state's Legislative Analyst and its Director of Finance.)

"Increased annual state enforcement costs of potentially several hundred thousand dollars, partially offset by increased fine revenues."

Path to the ballot

See also: California signature requirements

External links

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