Thanks for the link. I still think it is a non-starter. This would prohibit all non-political orgs from spending money (while still allowing political orgs free reign). It would not prohibit just for-profit companies - and I think it would violate federal law based on such.
A state very likely can no more restrict speech for a corp than it can for an individual since such rights are federal rights and not states rights.
Think of this like abortion - no state could ban it while the Fed said so. When that changes, states could ban it. If a state had tried to ban it prior, it would have run afoul of fed law.