Report Title:

Campaign spending; corporate disclosure

Description:

Requires corporations to file campaign spending reports similar to those for candidate and noncandidate committees including an organizational report, preliminary report, and final report. (HB887 HD1)

HOUSE OF REPRESENTATIVES

H.B. NO.

887

TWENTY-SECOND LEGISLATURE, 2003

H.D. 1

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

CORPORATE DISCLOSURE FOR CAMPAIGN SPENDING.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION. Chapter 11, Hawaii Revised Statutes, is amended by adding three new sections to be appropriately designated and to read as follows:

"§11-     Organizational report, reporting corporation. (a)  The organizational report of a reporting corporation shall include:

(1) The full name of the corporation, street and mailing address, and telephone number of the corporate headquarters and, if different, the street and mailing address and telephone number of the principal business office located within the State;

(2) A list of the corporate officers and directors, stating the full name, mailing address, and telephone number of each officer and director;

(3) A description of the nature of the business;

(4) The full name, title, mailing address, and telephone number of the corporate officer or officers authorized to sign the reports required under this subpart;

(5) The full name, title, mailing address, and telephone number of the custodian of the reporting corporation's books and accounts, if different from the corporate officer(s) authorized to sign the reports required under this subpart; and

(6) The election period for which the report is being filed.

(b) Any change in information submitted in the organizational report shall be reported no later than 4:30 p.m. on the tenth calendar day after such change is made.

§11-     Preliminary reports, reporting corporation.

(a) The reporting corporation shall file a preliminary report with the commission on forms provided by the commission no later than 4:30 p.m. ten calendar days prior to each election.

(b) Each report shall be certified pursuant to section 11-195 and shall contain the following information which shall be current through the fifth calendar day prior to the filing of the report:

(1) The aggregate sum of all contributions made to all candidates, committees, or parties within the election period;

(2) The aggregate sum of all expenditures made in support of or in opposition to any candidate, committee, or party; and

(3) The amount and date of each disbursement or contribution made to a candidate, party, or committee, including the name and address of each payee. For expenditures, identify the candidate, party, or committee on whose behalf the expenditure was made.

(c) The reporting corporation shall file a supplemental report to the report filed under subsection (b) no later than 4:30 p.m. three calendar days prior to the election for any contributions or expenditures to a single candidate, committee, or party aggregating to more than $500.

§11-     Final report, reporting corporation. (a) A reporting corporation shall file a final report certified pursuant to section 11-195 with the commission on forms provided by the commission no later than 4:30 p.m. on the twentieth calendar day after an election period. The report shall include the following information which shall be current through the end of the election period:

(1) A statement of the aggregate sum of all contributions made to all candidates, committees, or parties within the election period;

(2) A statement of the aggregate sum of all expenditures made in support of or in opposition to any candidate, committee, or party within the election period; and

(3) The amount and date of each disbursement or contribution made to a candidate, party, or committee, including the name and address of each payee, that was not previously reported. For expenditures, identify the candidate, party, or committee on whose behalf the expenditure was made."

SECTION 2. Section 11-191, Hawaii Revised Statutes, is amended by adding two new definitions to be appropriately inserted and to read as follows:

""Corporation" means any business entity authorized to transact business within the State or subject to the laws of the State.

"Reporting corporation" means any corporation that (1) contributes or expends an aggregate of $10,000 or more from its own funds to candidates, committees, or parties within an election period and (2) has not filed reports as a noncandidate committee under this chapter."

SECTION 3. Section 11-194, Hawaii Revised Statutes, is amended to read as follows:

"§11-194 Registration. (a) Each candidate, committee, or party shall file an organizational report as set forth in section 11-196, or section 11-196.5 as applicable, within ten days from the date a candidate or candidate committee receives any contributions or makes any expenditures, the aggregate amount of which is more than $100, or, within ten days from the date a noncandidate committee receives any contributions or makes any expenditures, the aggregate amount of which is more than $1,000.

(b) Committees that form within ten days of an election and expend in the aggregate more than $1,000 shall register and fully disclose the expenditure by 4:30 p.m. on the last calendar day prior to the expenditure.

(c) Each candidate who files nomination papers for office with the chief election officer or county clerk shall file an organizational report within ten days of filing.

(d) A reporting corporation shall file an organizational report pursuant to sections 11-195 and 11- no later than 4:30 p.m. of the fifteenth calendar day prior to any election when the aggregate contributions or expenditures exceed $10,000 and thereafter file reports pursuant to sections 11- and 11- . The reporting requirements of this subsection are in addition to the disclosure requirements pursuant to section 11-207.6."

SECTION 4. Section 11-195, Hawaii Revised Statutes, is amended by amending subsection (a) to read as follows:

"(a) All reports required to be filed under this subpart by a candidate or those committees directly associated with the candidate's candidacy shall be certified by the candidate and treasurer. Reports required to be filed under this subpart by a party, reporting corporation, or committee that supports more than one candidate shall be certified by a person authorized to sign the reports. All reports required to be filed under this subpart shall be open for public inspection in the office of the commission."

SECTION 5. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 6. This Act shall take effect upon its approval.