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The corporations themselves cannot vote. This law allows the owner of the corporation to vote even if they do not live within the city proper. No one can vote twice - whether you live in the city and own a corporation or own multiple corporations. And it’s only for corporations that own property. While it’s easy to imagine this backfiring, the steelman position is - you own a small business one town over, you have a significant role in the local economy, giving you one vote the same as any resident sounds pretty reasonable. Rich folk who own a house and live their 2 months out of the year are potentially eligible to vote as well, so it’s potentially more justified that the owner of the local bakery gets to vote too. Could this end up being horribly abused? I don’t know that there are enough safeguards against it. But this doesn’t immediately scream the end of democracy to me.
It’s extremely easy, and I believe this bill also allows for them to vote by proxy, which exacerbates that concern. But on the other hand, they do need to own property, so it isn’t a totally costless endevour.