General Assembly Raised Bill No. 461 seeks to regulate political spending by corporations in Connecticut, effective January 1, 2027. The bill stipulates that no corporation, whether formed in the state or authorized to conduct business there, can make political expenditures unless these are channeled through a political committee established by the corporation. Violations of this requirement could result in severe penalties, including the dissolution of the corporation or revocation of its authority to operate in the state. The bill also introduces new provisions for administrative dissolution, requiring corporations found in violation to appeal within three months of receiving notice, or face automatic dissolution.

Additionally, the bill modifies existing laws regarding the powers of corporations and the conditions under which the Secretary of State may revoke a foreign corporation's registration. It adds new criteria for revocation, including violations identified by the State Elections Enforcement Commission, while maintaining existing conditions such as failure to maintain a registered agent. The bill also repeals and replaces Section 33-1036, affirming that all corporations have perpetual duration unless otherwise stated, and updates notification procedures for administrative dissolution. Overall, Raised Bill No. 461 aims to enhance compliance and clarify the operational framework for corporate political expenditures in Connecticut.

Statutes affected:
Raised Bill: 33-647, 33-890, 33-935, 33-1036, 33-1181, 33-1225