SB3870

SB3870 prohibits foreign-influenced business entities from making political contributions or expenditures in Illinois elections.

SB3870 amends the Illinois Election Code to prohibit foreign-influenced business entities from making political contributions or expenditures. A foreign-influenced business entity is defined as one where a single foreign investor holds 1% or more of the equity, two or more foreign investors hold 5% or more in aggregate, or a foreign investor participates in decision-making. The bill requires for-profit business entities to certify they are not foreign-influenced before making contributions or expenditures.