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MADISON, Wis. (AP) -- Corporations would need approval from shareholders to spend money influencing political races under a bill up for a public hearing Wednesday.

The plan sponsored by Sen. Robert Wirch, D-Pleasant Prairie, comes in response to the January U.S. Supreme Court decision that corporations are free to spend money on election advocacy.

The bill would repeal a long-standing law banning corporations and cooperatives from spending money from their general treasuries to influence campaigns for state or local office, which is likely no longer enforcable.

The bill would require corporations and cooperatives spending money on political races to have approval from a majority of shareholders or members within the last two years and to disclose the spending to the public.

(Copyright 2010 by The Associated Press. All Rights Reserved.)