INITIATIVE NO. 194
Pamphlet fetched from a county website mirror (Richland County) of the SOS Voter Information Pamphlet; sosmt.gov copy not directly fetched.
Montana Voter Information Pamphlet includes arguments and rebuttals written by the approval and rejection committees; MT ballot statements carry no separate fiscal statement in the pamphlet for these measures.
GAP-FILL 2026-10-10: fiscal_impact: the official Voter Information Pamphlet and ballot carry no fiscal statement for this issue. Under MCA 13-27-227 a fiscal note is prepared only if the budget director finds one necessary, so none was published.
INITIATIVE NO. 194 A LAW PROPOSED BY INITIATIVE PETITION 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.
A YES vote would APPROVE adding language to Montana law.
A NO vote would make NO CHANGE to Montana law. Page | 29
Not published by the state
Not published by the state
The Montana Plan, I-194, will end the ability of artificial persons (such as corporations, associations, unions) to spend to support or oppose candidates and ballot issues in Montana. The 2024 presidential election year saw a total of $14.8 billion spent on federal campaigns: $9.5 billion on congressional races and $5.3 billion on the presidential race. In contrast, the entire general fund budget for the state of Montana in 2026 was $3.5 billion, less than a quarter of the amount of money spent on federal campaigns. That amount of money alone makes it critically important to understand where that money is coming from and who is bankrolling campaigns. Money spent to influence the decision of a voter without being required to disclose the original donor is referred to as “dark money.” The source is often concealed from the public - but not the politicians. Anonymous “dark money” is typically used to pay for incessant digital ads, mailers and television that are intended, on the one hand, to negatively attack and “carpet bomb” an opposing candidate with grainy photographs and insinuations of corruption or incompetence; or, on the other hand, to elevate the opposing candidate whose alleged attributes and competencies are inflated but alleged to be indispensable to the existence of the country. Neither representation is completely accurate nor helpful for voters trying in good faith to determine the best candidate to serve the public good. In the 2024 Montana Senate race, outside groups, including super PACs, spent $162.7 million on independent expenditures, including mailers, TV ads, and digital and socialmedia advertising. Just one “dark money” group alone, The Last Best Place PAC, sponsored approximately 39,000 ad airings in Montana, and neither Montana voters or candidates had any idea where its money came from. It had been intentionally shrouded in a tangled web to generate confusion and disarray among Montana voters. Business corporations can transfer money directly to super PACs and other outside groups. In 2024, Koch Industries, for example, spent $49 million, $40 million of which went to Americans for Prosperity Action, which, in turn, spent money on Montana elections. Artificial persons (such as business corporations, nonprofits, and unions) are neither constitutional nor human creatures. They are pure creations of state law. Montana grants them every power they have. And Montana has reserved the authority to modify those powers at any time, for any reason. If I-194 is passed by the people, Montana will no longer grant artificial persons the power to spend in Montana's politics. It's that simple. No longer would anonymous "dark money" be allowed in Montana campaigns - every dollar would be from a human person, would be disclosed, and would be voluntary. If corporate officers and the great titans of business and industry decide to spend money to support a candidate or an issue, they’ll have to do it the same way the rest of us do. They’ll have to use their own money, observe contribution limits, comply with reporting requirements, and disclose their name.
Approval Committee: Gary Buchanan, Marc Racicot, Raymond Jon Tester
Rejection Committee: David Knobel, Matthew Dolphay, Todd O’Hair, Representative Greg Overstreet, Dale Schowengerdt
I-194 has nothing to do with protecting elections, removing money from politics, getting rid of the influence of money in politics, or addressing undisclosed dark money spending. Instead, it’s a misguided, poorly drafted, authoritarian attempt to unconstitutionally restrict Montanans’ free speech rights under the guise of targeting spending in elections—even though there isn’t a single example provided of corporate election spending but examples abound of PAC and dark money spending that would continue to be allowed under I-194. I-194 allows individuals to continue to spend unlimited amounts on elections and PAC and many dark money groups to operate just as they do now. But it would target small Montana businesses, churches, and community groups, and similar groups—referred to as “artificial persons” in the measure—even though these entities are just groups of individual Montanans. If such a group voices an opinion—whether by printing a pamphlet, running an advertisement, creating a film, or even maintaining a website—I-194 threatens extreme penalties, including the loss of legal protections that could expose Montanans to personal liability and put their personal assets at risk Federal courts have already struck down twice similar laws as unconstitutional restrictions on free speech, and the result would be the same here. If I-194 passes, it will accomplish little beyond wasting Montana taxpayer dollars while it is tied up in court and ultimately struck down. The United States Supreme Court has already decided that the government cannot directly ban a group of Montanans from engaging in political speech. In a famous case, a group of individuals wanted to show a documentary about a presidential candidate during a campaign, but federal law barred them because they acted through an organization rather than as a single individual. The group sued under the First Amendment. The Supreme Court decided that political speech during a campaign for public office is the core type of speech protected by the First Amendment and determined that the government banning a documentary about a candidate was a violation of free speech whether the documentary was made by an individual or a group of individuals. I-194 seeks to accomplish the same result of banning political speech during elections, not by directly banning it, but instead by imposing extreme penalties on any group of Montanans who choose to engage in free speech. The government cannot, and should not, be allowed to impose bans on free speech during elections, directly or indirectly, and for that reason Montanans should reject I-194 and vote no.
Rejection Committee: David Knobel, Matthew Dolphay, Todd O’Hair, Representative Greg Overstreet, Dale Schowengerdt
Approval Committee: Gary Buchanan, Marc Racicot, Raymond Jon Tester
Both columns use the same layout. Text is quoted from the official state guide. Views expressed belong to the argument authors.