HI HB2560

Requires all domestic and foreign corporations authorized to do business in Hawaii that make more than $1,000 in independent expenditures and contributions annually to disclose these activities to shareholders in an annual report.

Report must include separate aggregate totals for independent expenditures, contributions to noncandidate committees, and contributions to candidate committees, along with identification of any specific monetary or nonmonetary benefits accrued to the corporation.

Corporations may satisfy reporting requirements by delivering existing reports that contain the required information in more detail, such as reports already filed with the campaign spending commission.

Definitions of "contribution" and "independent expenditure" are incorporated by reference from section 11-302 of Hawaii Revised Statutes.

Effective date is July 1, 2030.