Bill > SB348

This bill establishes the Uniform Antitrust Pre-Merger Notification Act in Hawaii, which requires certain businesses to file electronic copies of their Hart-Scott-Rodino (HSR) pre-merger notification forms with the state attorney general. Specifically, companies must file these forms if they have their principal place of business in Hawaii or if they had annual net sales in the state of at least 20% of the federal HSR filing threshold. The bill mandates that these filings include both the HSR form and additional supporting documentary materials. To protect businesses, the bill includes strict confidentiality provisions, ensuring that the attorney general cannot publicly disclose the submitted documents except under limited circumstances, such as in legal proceedings or when sharing information with federal antitrust agencies or attorneys general from other states with similar confidentiality laws. The attorney general can impose a civil penalty of up to $10,000 per day for non-compliance with the filing requirements. The act will apply only to pre-merger notifications filed on or after its effective date, and it aims to promote uniformity with similar laws in other jurisdictions. The bill's key goal is to provide state-level oversight of potentially significant business mergers and acquisitions while maintaining the confidentiality of sensitive business information.

Business and Industry

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=348&year=2025