The Stop Corporate Money in Politics Act aims to restrict the ability of certain business entities to make contributions and expenditures for political purposes in New Jersey. The bill defines a "business entity" to include various forms of organizations such as corporations, nonprofit corporations, credit unions, partnerships, and limited liability companies, while excluding specific political committees and public bodies. It establishes that the existence of a business entity is a conditional grant of legal status by the State, which can be revoked at any time. Under the provisions of the bill, business entities are prohibited from making contributions or expenditures to candidates or committees, or engaging in activities that support or oppose candidates or public questions during elections.

In addition to these restrictions, the bill empowers the Attorney General to take legal action against any business entity that violates its provisions, with potential penalties including suspension of the entity's operational authority, revocation of tax-exempt status, and even involuntary dissolution. The bill also amends existing laws to clarify that certain powers related to contributions and expenditures are prohibited, ensuring that any organizational documents granting such powers would be void. The act is set to take effect one year after its enactment.