Initiative 194: Political Spending by Artificial Persons (The Montana Plan Act)
Statewide — all of Montana
General election · Tuesday, November 3, 2026
- Citizen-initiated state statute backed by The Montana Plan (led by former Commissioner of Political Practices Jeff Mangan), certified for the November ballot on Aug. 17, 2026. It required 30,121 valid signatures from at least 34 House districts. If approved, it takes effect January 1, 2027.[1][2][3]
The question on the ballot
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. [ ] YES on Initiative I-194 [ ] NO on Initiative I-194[1]
Per the full text, “political spending power” (paying or spending anything of value to support or oppose a candidate, party, political committee or any ballot question) is declared not among the powers Montana extends to artificial persons, except through political committees. An entity that exercises it forfeits its Montana charter privileges (limited liability, perpetual duration, succession in name, statutory limits on personal liability) and may be reinstated only after disgorging the money spent, certifying future compliance, and meeting other conditions. The Secretary of State would adopt rules and the Attorney General would enforce. It does not apply to natural persons acting individually, the state and its subdivisions, public bodies corporate, or political committees, nor to bona fide news, commentary or editorial content. Because it is a statute, the Legislature could amend it, and news reports expect a prompt court challenge.[1][4]
A YES vote means
Enacts The Montana Plan Act, limiting the powers of artificial persons (including corporations, nonprofits, trusts and trade associations) so they cannot spend on candidates, parties or ballot issues, with forfeiture of Montana business privileges for violations, as described in the official ballot language.
A NO vote means
Makes no change to current Montana law on political spending by corporations, nonprofits and other entities.
Arguments made for
- Former Gov. Steve Bullock (D), who endorsed the initiative, said: “The [initiative] unties our hands by letting Montanans decide what corporations have the power to do in our state. This honors our history of fair play and returns the power back to the voters, where it belongs.”[2]
- Initiative organizer Jeff Mangan said: “I-194 will literally get rid of dark money in the state of Montana it will end corporate and dark money spending, which means only individuals will be able to spend in our elections.”[4]
Arguments made against
- Montanans for Free Speech, leading the campaign against, said: “I-194 would prohibit businesses, nonprofits, trade associations, cooperatives, and other organizations from participating in ballot initiative campaigns in Montana. Full stop. At the same time, I-194 places no limits whatsoever on wealthy individuals.”[2]
- Todd O'Hair, president of the Montana Chamber of Commerce, said: “This is going to silence the Montana business community. It's going to prevent the business community from defending itself while it still allows for the millionaire and the billionaire class to spend unlimited resources in the state of Montana.”[4]
On record in support
- The Montana Plan, the ballot-issue committee backing I-194.[6]
- Transparent Election Initiative (president Jeff Mangan, former Commissioner of Political Practices), which launched the Montana Plan.[5]
- Former Republican Gov. Marc Racicot, who has endorsed the initiative.[3]
- Former Democratic Gov. Steve Bullock, who has endorsed the initiative.[3]
- Former Democratic U.S. Sen. Jon Tester, who has endorsed the initiative.[3]
- Pete Buttigieg, former U.S. transportation secretary, who headlined a Butte event promoting it in May 2026.[5]
On record in opposition
- Montana Chamber of Commerce (president Todd O'Hair), which has contributed to the committee opposing I-194.[5][6]
- Montanans for Free Speech, the political committee opposing I-194.[6]
- Montana Mining Association.[5]
- Montana Republican Party, which has added opposition to I-194 to its platform.[5]
- Billings and Kalispell chambers of commerce, which joined the Montana Chamber in litigation seeking to keep the initiative off the ballot.[6]
- Americans for Prosperity, named by KULR as an opponent of I-194.[4]
Campaign money
Per Montana Free Press (June 2026), The Montana Plan committee raised $145,892 from July 2025 through the end of May 2026 ($112,089 in cash from Transparent Election Initiative) and spent just under $50,000. KTVH reports Transparent Election Initiative had passed roughly $240,000 to the committee as of August. Montanans for Free Speech (opposed) showed no donations as of August, with expenditures of about $9,000 and about $45,000 for polling, per KTVH. Later filings were not retrieved.[3][6]
Research notes & limits
The Montana Secretary of State's ballot-issues web pages returned HTTP 403 to automated requests and were not bypassed; the official ballot language was read from the SOS-hosted PDF, and certification status from Ballotpedia News' report of the Aug. 17, 2026 certification. A fiscal note and official 'a vote FOR/AGAINST means' statements were not retrieved (the ballot-language PDF contains none), so yesMeans/noMeans are derived strictly from the official ballot language and no fiscal impact is stated. A 2026 Voter Information Pamphlet with official arguments is listed on sosmt.gov but could not be read (the site returned HTTP 403 and was not bypassed); arguments are the campaigns' or opponents' own statements as reported by news. Added Oct. 19: no fiscal note was found for I-194 (none in the Secretary of State's ballot-language PDF), so fiscalImpact is omitted; the Commissioner of Political Practices' filing system was not queried directly (cers-ext.mt.gov redirected).
Sources · 6
Researched 2026-10-19. Green citations are official government records.
- 1.Ballot Language for Initiative No. 194 (I-194) · Montana Secretary of State Official record
- 2.Montana Secretary of State certifies three ballot initiatives for November · Ballotpedia News · 2026-08-19 Reference
- 3.The ballot questions likely to come before voters in November · Montana Free Press · 2026-06-23 News report
- 4.Montana's 2026 statewide ballot initiatives explained · KULR-8 (NonStop Local) News report
- 5.I-194 seeks to remove 'dark money' from politics · Daily Montanan · 2026-10-13 News report
- 6.Montana's ballot measure on political spending, explained · KTVH (NonStop Local) News report