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Montana · November 3, 2026 general election · Statewide ballot measure

I-194: what your vote means

Political spending by corporations and other entities. On every Montana ballot. Official sources checked October 22, 2026.

I-194 · Initiated state statute

Political spending by corporations and other entities

Official ballot title (quoted exactly)

I-194, if passed, limits the powers of artificial persons to those powers necessary or convenient as provided by law. These powers must exclude contributing anything of value to candidate elections, supporting or opposing political parties, or supporting or opposing state or local ballot issues. Artificial persons include non-profits, trusts, partnerships, corporations, trade associations, or unincorporated associations and includes all such entities doing business in Montana. Any violation of I-194 is punished by forfeiting all privileges to do business in Montana. Those privileges may be, but are not automatically, restored upon disgorgement and certification of compliance with I-194. I-194 does not apply to the distribution of news, commentary, or editorial content. I-194 also does not apply to the state of Montana, political subdivisions, individuals, political committees, or public corporations.

Ballot language as printed in the Secretary of State’s 2026 Voter Information Pamphlet.

A YES vote means:

Corporations, nonprofits, trusts, partnerships, and similar entities would no longer have legal power to spend money to support or oppose candidates, parties, or ballot issues in Montana, except through political committees. An entity that does so would forfeit its Montana charter privileges, such as limited liability, until it repays the spending and certifies compliance.

A NO vote means:

Montana law on political spending by corporations and other entities would stay as it is.

What it would change

  • Who is affected: corporations, nonprofits, unions and other associations, trusts, and partnerships doing business in Montana.
  • Not covered: individuals, political committees, the state and local governments, and the distribution of news, commentary, or editorial content.
  • The Secretary of State would adopt enforcement rules and the Attorney General could sue to enforce it.
  • Takes effect January 1, 2027, as a new chapter in Title 35 of Montana law.
  • Fiscal impact: No official fiscal statement is printed for this measure in the Secretary of State’s 2026 Voter Information Pamphlet.

Official arguments, summarized

Short neutral summaries of the arguments printed in the official voters’ pamphlet. The committees that wrote them are responsible for their content. Read the full text at the link below.

Argument for

Supporters say it would end spending by corporations and other entities, including undisclosed “dark money,” in Montana elections, so that political spending comes from individuals and is disclosed.

Written by: Gary Buchanan, Marc Racicot, Raymond Jon Tester (approval committee)

Argument against

Opponents say it is poorly drafted and unconstitutional, and that it would not address undisclosed spending.

Written by: David Knobel, Matthew Dolphay, Todd O’Hair, Rep. Greg Overstreet and others (rejection committee)

Montana Secretary of State: 2026 Voter Information Pamphlet

Who supports it and who opposes it

These lists come from official campaign filings (registered committees) and public endorsements, each linked to its source. They are not complete, and SaveYourState does not endorse anyone listed. Lists checked October 30, 2026.

Who supports it

Who opposes it

Official sources

SaveYourState is independent and nonpartisan, not a government site, and does not take positions on ballot measures. This explainer describes effects only, using the official ballot title, explanatory statement, full text, and fiscal impact statement. If anything here differs from those documents, the official documents control.