Bill > SB57

This bill requires both domestic and foreign corporations operating in Hawaii to provide their shareholders with an annual report detailing their independent expenditures and political contributions if those expenditures and contributions exceed $10,000 in a year. The report must include aggregate totals for independent expenditures and contributions to candidate and noncandidate committees, and must also identify specific monetary or nonmonetary benefits received by the corporation as a result of these expenditures and contributions. The bill defines key terms such as "candidate committee", "contribution", "independent expenditure", and "noncandidate committee" using existing definitions from section 11-302 of Hawaii's campaign finance laws. The legislative findings suggest that this reporting requirement serves multiple purposes, including providing shareholders with transparency about corporate political spending, deterring potential corruption, enabling shareholders to make informed decisions, and allowing for additional scrutiny of corporate political contributions. The new reporting requirement will be delivered to shareholders simultaneously with the corporation's regular annual report, and corporations can fulfill the requirement by providing more detailed reports already filed with the campaign spending commission. The bill will take effect immediately upon approval.

Business and Industry

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=57&year=2026