HB1251 Summary

• Requires domestic and foreign corporations authorized to do business in Hawaii that make more than $10,000 in independent expenditures and contributions annually to disclose these amounts 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 that accrued to the corporation.

• Corporations may satisfy reporting requirements by providing other detailed reports that contain the same information, such as reports filed with the campaign spending commission, rather than preparing separate reports.

• Defines "contribution" and "independent expenditure" by reference to Hawaii Revised Statutes section 11-302.

• Takes effect upon approval.