The bill introduced by Senator Smith aims to enact several new sections of the Revised Code, specifically sections 4933.51 through 4933.60, which prohibit public utilities from recovering costs associated with political expenditures from their customers. The bill defines key terms such as "public utility," "nonprofit organization," and "political expenditure," outlining various forms of political spending that would be restricted. It explicitly states that no public utility can recover these costs through any rate or charge mechanisms established under existing law.

Additionally, the bill establishes a framework for accountability and penalties. If a public utility is found to have charged customers in violation of the new provisions, it must refund those charges with interest. The Public Utilities Commission is tasked with imposing fines on utilities that violate these rules, with the fines directed to a newly created Political Activity Fine Fund. This fund will be used to assist customers with past-due utility bills, and the Department of Development will oversee its administration. Furthermore, public utilities are required to submit annual reports detailing their political expenditures, which will be compiled and submitted to the General Assembly by the Commission.