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S. 530: Shareholder Protection Act of 2021

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About the bill

Should a corporation’s board of directors be able to make political spending decisions on their own?


Corporations are barred from donating to actual campaigns or political action committees (PACs). However, since the Supreme Court’s 2010 decision Citizens United v. FEC, corporations — and other organizations including unions — can now spend unlimited amounts on independent political advertising and communications to so-called Super PACs. This can also be done without public disclosure, in what’s become known as “dark money.”

In the 5–4 ruling, the Court struck down previous financial limits and public disclosure requirements as unconstitutional infringements on the First Amendment. The dissenting justices would have upheld those limits and disclosure rules, countering that monetary spending isn’t the same as non-monetary speech, which is what the First …

Sponsor and status

Robert “Bob” Menendez

Sponsor. Senior Senator for New Jersey. Democrat.

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Last Updated: Mar 2, 2021
Length: 13 pages
Mar 2, 2021
117th Congress (2021–2023)

Introduced on Mar 2, 2021

This bill is in the first stage of the legislative process. It was introduced into Congress on March 2, 2021. It will typically be considered by committee next before it is possibly sent on to the House or Senate as a whole.

Other activity may have occurred on another bill with identical or similar provisions.


16 Cosponsors (16 Democrats)

3% chance of being enacted according to Skopos Labs (details)


Mar 2, 2021

Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.

If this bill has further action, the following steps may occur next:
Passed Committee

Passed Senate

Passed House

Signed by the President

S. 530 is a bill in the United States Congress.

A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.

Bills numbers restart every two years. That means there are other bills with the number S. 530. This is the one from the 117th Congress.

How to cite this information.

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“S. 530 — 117th Congress: Shareholder Protection Act of 2021.” 2021. December 7, 2022 <>

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