SB1032 Summary

• Prohibits foreign nationals, foreign corporations, and foreign-influenced business entities from making contributions, expenditures, electioneering communications, or donations for election purposes in Hawaii.

• Defines "foreign-influenced business entity" as a business entity where: (1) a single foreign investor owns 1% or more of equity; (2) six or more foreign investors own 5% or more in aggregate; or (3) a foreign investor participates in decision-making regarding political activities.

• Requires business entities intending to make campaign contributions or expenditures to file a certification within seven days of their first contribution, signed by the CEO under penalty of perjury, attesting they are not foreign-influenced entities.

• Mandates that noncandidate committees making independent expenditures obtain written certifications from top contributors confirming no funds were derived from foreign entities; advertisements lacking such certifications must include a warning statement.

• Establishes that if foreign-influenced business entity conditions are ruled unconstitutional, the Campaign Spending Commission must develop revised constitutional conditions; effective July 1, 3000.