AB 1984: Corporate powers: political spending power.

<p>The bill aims to redefine corporate powers in California by explicitly excluding political spending as a right for artificial persons organized under the Corporations Code. It revokes any previously granted powers that allowed corporations to engage in political spending, declaring such activities void and requiring corporations to forfeit their granted powers if they exceed these limitations.</p> <p>The bill also outlines procedures for reinstating forfeited corporate powers after corporations disgorge funds used for prohibited political spending. The Secretary of State would be authorized to create rules regarding this process, while the Attorney General would have enforcement authority.</p> <p>Additionally, the bill states that its provisions are severable and expresses a legislative preference for corporations having no powers at all rather than retaining any form of political sp…