Shareholder Political Transparency Act of 2025

Increased Transparency for Shareholders: The bill allows shareholders to know how corporate managers are spending company funds on political contributions and expenditures (Section 2).

Public Access to Information: The Commission is required to make quarterly reports available on its website and through the EDGAR system in a searchable, sortable, and downloadable manner (Section 3, Paragraph 2, Part B).

Detailed Expenditure Tracking: Issuers must provide descriptions, dates, and amounts of political expenditures, including the name of the candidate and their political party if the money was used to support or oppose a candidate (Section 3, Paragraph 2, Part A).

Advance Notice of Spending: The bill requires corporations to include in their annual reports a description of the specific nature of intended political expenditures and the total amount intended for the upcoming fiscal year (Section 3, Paragraph 3, Parts B and C).

Oversight of Trade Association Payments: The reporting requirements include identifying trade associations or organizations that receive dues or payments that could be used for political purposes (Section 3, Paragraph 2, Part A, subclause v).

Exclusion of Direct Lobbying: The definition of expenditures for political activities does not include direct lobbying efforts through registered lobbyists employed or hired by the issuer (Section 3, Paragraph 1, Part A, subclause ii).

Exclusion of Internal Communications: The reporting requirements do not cover communications made by an issuer to its shareholders or its executive and administrative personnel and their families (Section 3, Paragraph 1, Part A, subclause ii).

Exclusion of Separate Segregated Funds: The bill does not require the reporting of the establishment and administration of contributions to a separate segregated fund used for political purposes by a corporation (Section 3, Paragraph 1, Part A, subclause ii).