May 18, 2010, Introduced by Reps. Bledsoe, Byrnes, Geiss, Lisa Brown, Terry Brown, Donigan, Valentine, Bauer, Robert Jones, Warren, Miller, Barnett, Lipton, Roberts, Liss, Meadows and Switalski and referred to the Committee on Ethics and Elections.
A bill to amend 1976 PA 388, entitled
"Michigan campaign finance act,"
(MCL 169.201 to 169.282) by adding section 55c.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 55c. (1) A corporation or joint stock company that has
entered into a contract with this state or any political
subdivision of this state, that has received a grant funded in
whole or in part by this state or any political subdivision of this
state, or that has received a tax incentive or tax credit from this
state or any political subdivision of this state shall not make an
independent expenditure until that contract, grant, incentive, or
credit has expired. A corporation or joint stock company that has
applied for, submitted a bid for, or requested a contract, grant,
or tax incentive or credit as described in this subsection, or any
renewal or extension thereof, shall not make an independent
expenditure while the application, bid, or request is pending.
(2) A corporation or joint stock company that accepts federal
financial assistance under the federal troubled asset relief
program or any similar federal program shall not make an
independent expenditure until it repays any federal financial
assistance received from that program. As used in this subsection,
"troubled asset relief program" means the troubled asset relief
program established under 12 USC 5211.
(3) An electric utility, natural gas utility, or an insurer
shall not make an independent expenditure. As used in this
subsection:
(a) "Electric utility" means that term as defined in section 2
of the electric transmission line certification act, 1995 PA 30,
MCL 460.562.
(b) "Insurer" means that term as defined in section 106 of the
insurance code of 1956, 1956 PA 218, MCL 500.106.
(c) "Natural gas utility" means that term as defined in
section 9 of 1939 PA 3, MCL 460.9.