Enacts the "corporate political activity accountability to shareholders act"; requires that corporate contributions to a political candidate or party committee or in support or opposition to a candidate or ballot referendum be approved by a majority of shareholders; applies to cooperative corporations, not-for-profit corporations, railroad and transportation corporations.

The bill requires that any corporate donations to political candidates, party committees, or related ballot measures must be approved by a majority of the company's shareholders. This rule would apply to various types of corporations, including cooperatives, not-for-profits, and transportation companies. The goal is to increase transparency and accountability in corporate political spending.

Supporters of the bill argue that it empowers shareholders and ensures that corporate political contributions reflect the interests of the majority. They believe this measure will promote greater transparency and accountability in corporate governance, ultimately leading to more responsible political engagement by corporations.

Critics contend that the bill could hinder corporate political participation and limit the ability of companies to support candidates and issues they believe in. They argue that requiring shareholder approval for contributions may slow down decision-making processes and could disadvantage smaller companies that may lack the resources to navigate the approval process.