AN ACT to amend the north carolina CONSTITUTION to limit corporate political spending powers.

Whereas, corporations are artificial entities created by state law for the purpose of furthering certain economic goals; and

Whereas, corporations do not exist without law; and

Whereas, Citizens United granted corporations the right to unlimited political spending with little transparency but did not prohibit states from exercising their authority to define corporate entities; and

Whereas, Citizens United greatly compromised our system of democracy and diluted individuals' voices; and

Whereas, only the State can grant corporations the power to spend politically; and

Whereas, a 2023 Pew Research poll found that eight in 10 Americans, including large majorities of both Democrats and Republicans, believe there is too much corporate money in politics; and

Whereas, elections are about people, not unlimited corporate spending and control; and

Whereas, this act will return power back to the voters and restore integrity in elections; Now, therefore,

The General Assembly of North Carolina enacts:

SECTION 1.  Article VIII of the North Carolina Constitution is amended by adding a new section to read:

Sec. 3.  Limitation on corporate powers.

A person, other than a human being, may not exercise political spending power in this State. This limitation does not apply to political committees acting in a manner prescribed by law or to a person distributing bona fide news, commentary, or editorial content if the person publishing the content is owned or controlled by a political party, a political committee, or a candidate. Any action violating the limitation of this section is ultra vires and void and shall result, as a matter of law, in the withdrawal of all legal benefits the State confers on the person, including existence, limited liability, or the authorization to transact business, subject only to reinstatement by act of the General Assembly. A person organized or existing under the laws of another jurisdiction that directly or indirectly undertakes, finances, or directs the exercise of political spending power in this State is conclusively deemed to be transacting business in this State. For purposes of this section, political spending power is the legal capacity to expend money or anything of value to influence the outcome of a vote of the electorate.

SECTION 2.  The amendment set out in Section 1 of this act shall be submitted to the qualified voters of the State at the statewide general election to be held on November 3, 2026, which election shall be conducted under the laws governing elections at that time. The question to be used in the voting systems and ballots shall be:

[ ] FOR          [ ] AGAINST

Constitutional amendment to (i) limit corporate powers regarding the ability to spend money or anything of value to influence the outcome of a vote of the electorate and the exceptions to that limitation; (ii) declare actions taken outside of those powers regarding political spending are void and result in the withdrawal of State‑conferred privileges, subject to legislative action to reinstate such privileges; and (iii) define what constitutes political spending power.

SECTION 3.  The State Board of Elections shall certify the results of the referendum conducted under Section 2 of this act. If a majority of votes cast on the question are in favor of the amendment set out in Section 1 of this act, the Secretary of State shall enroll the amendment among the permanent records of that office. If a majority of votes cast on the question are against the amendment set out in Section 1 of this act, the amendment shall have no effect.

SECTION 4.  If the certification from the State Board of Elections under Section 3 of this act reflects that a majority of votes cast on the question are in favor of the amendment set out in Section 1 of this act, the amendment set out in Section 1 of this act is effective upon certification.

SECTION 5.  Except as otherwise provided, this act is effective when it becomes law.