To amend the securities laws to require that registration statements, quarterly and annual reports, and proxy solicitations of public companies include a disclosure to shareholders of any expenditure made by that company in support of or in opposition to any candidate for Federal, State, or local public office.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Corporate Politics Transparency Act''.
SEC. 2. DISCLOSURE TO SHAREHOLDERS OF CERTAIN POLITICAL EXPENDITURES.
(a) Quarterly and Annual Reports.--Section 13 of the Securities Exchange Act of 1934 (15 U.S.C. 78m) is amended by adding at the end the following new subsection: ``(m) Disclosure of Certain Political Expenditures.-- ``(1) Disclosure required.--Each quarterly and annual report required under this section or section 15(d) shall include a disclosure of the total of any political expenditures in support of or in opposition to any candidate for Federal, State, or local public office made by the issuer during the preceding 6-year period. Such disclosures shall contain, at minimum, the name and political party affiliation of each candidate in support of whom or in opposition to whom a political expenditure was made, the amount of each such expenditure, the public office that such candidate was or is seeking, including the relevant State, city, or district, and a statement of the issuer's interest in and reason for making such expenditure. ``(2) Definition.--For purposes of this subsection, the term `political...