Senate Bill 2608

(COMMITTEE SUBSTITUTE)

AN ACT TO LIMIT POLITICAL CONTRIBUTIONS BY CORPORATIONS TO $1,000.00 PER CALENDAR YEAR; TO PROVIDE THAT ANY CONTRIBUTION OVER $1,000.00 PER CALENDAR YEAR SHALL BE RETURNED TO THE DONOR, OR IF RETURNING THE EXCESS AMOUNT IS NOT POSSIBLE, THEN THE EXCESS SHALL BE DEPOSITED INTO THE ELECTION SUPPORT FUND; TO PROHIBIT A CANDIDATE, CANDIDATE COMMITTEE OR POLITICAL COMMITTEE FROM EXPENDING A CORPORATE DONATION FOR THE PORTION THAT EXCEEDS $1,000.00; TO REPEAL SECTIONS 97-13-15 AND 97-13-17, MISSISSIPPI CODE OF 1972, WHICH PROHIBITED POLITICAL CONTRIBUTIONS BY CORPORATIONS AND PENALIZED ILLEGAL CORPORATE CONTRIBUTIONS; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. (1) It shall be unlawful for any corporation, incorporated company or incorporated association, by whatever name it may be known, incorporated or organized under the laws of this state or any state or any country, or for any servant, agent, employee or officer thereof, to give, donate, appropriate or furnish directly or indirectly, any money, security, funds or property of said corporation, incorporated company or incorporated association, in excess of One Thousand Dollars ($1,000.00) per calendar year for the purpose of aiding any political party or any candidate for any public office, or any candidate for any nomination for any public office of any political party, or to give, donate, appropriate or furnish, directly or indirectly, any money, security, funds or property of said corporation, incorporated company or association in excess of One Thousand Dollars ($1,000.00) to any committee or person as a contribution to the expense of any political party or any candidate, representative or committee of any political party or candidate for nomination by any political party, or any committee or other person acting on behalf of such candidate. The limit of One Thousand Dollars ($1,000.00) for contributions to political parties, candidates and committees or other persons acting on behalf of such candidates shall be an annual limitation applicable to each calendar year.

(2) Any candidate committee, or political party which accepts contributions from any corporation, incorporated company or incorporated association, or agent, officer or employee violating any of the provisions of this section, shall return the contribution as soon as it is realized the contribution was accepted in violation of this statute. If the Secretary of State sees a contribution in excess of One Thousand Dollars ($1,000.00) by a corporation filed on a candidate, candidate's committee or political committee's report, the Secretary of State shall immediately notify the entity. If the contribution cannot be returned, the amount in excess of the One Thousand Dollars ($1,000.00) limit shall be paid by the receiving entity to the Election Support Fund through the Secretary of State's Office.

(3) The candidate, candidate committee or political party shall not expend any contribution in excess of One Thousand Dollars ($1,000.00) if received in violation of this section. SECTION 2. Section 1 shall be codified in Title 23, Chapter 15, Mississippi Code of 1972.

SECTION 3. Sections 97-13-15 and 97-13-17, Mississippi Code of 1972, which prohibited political contributions by corporations and penalized illegal corporate contributions, are repealed.

SECTION 4. This act shall take effect and be in force from and after July 1, 2025.