HOUSE OF REPRESENTATIVES

H.B. NO.

630

TWENTY-EIGHTH LEGISLATURE, 2015

 

STATE OF HAWAII

 

 

 

 

 

 

A BILL FOR AN ACT

 

 

relating to campaign finance.

 

 

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

 


SECTION 1. Chapter 11, Hawaii Revised Statutes, is amended by adding a new section to subpart E of part XIII to be appropriately designated and to read as follows:

"11- Corporations; contributions and expenditures; determination of shareholder will required. (a) No corporation shall make any contribution or expenditure to or on behalf of any candidate, candidate committee, or noncandidate committee, or make any independent expenditure, except in accordance with the will of the majority of all shareholders of the corporation, as determined through the procedures required under subsection (b).

(b) A corporation shall include procedures in its bylaws for assessing the will of the majority of all shareholders of the corporation regarding any proposal by the corporation to make a contribution, expenditure, or independent expenditure.

(c) The distribution of a news story, commentary, editorial, book, or documentary in the ordinary course of business by a press organization owned or controlled by a corporation shall not be considered a contribution, expenditure, or independent expenditure for the purposes of this section.

(d) For the purposes of this section, the term "corporation" includes any corporation:

(1) In which the State or any county holds any investment; or

(2) That enters into any contract with the State or any county; provided that this paragraph shall apply only for the period commencing from the execution of the contract until:

(A) The parties to the government contract have either terminated the contract prior to completion of performance or fully performed the duties and obligations under the contract; and

(B) No disputes relating to the performance and payment remain under the contract, and all disputed claims have been adjudicated and are final."

SECTION 2. New statutory material is underscored.

SECTION 3. This Act shall take effect upon its approval.

 

INTRODUCED BY:

_____________________________

 

 


 


 

Report Title:

Elections; Campaign Finance; Contributions and Expenditures; Corporations; Shareholder Will

 

Description:

Prohibits corporate election contributions, expenditures, or independent expenditures except in accordance with the will of a majority of the corporation's shareholders.

 

 

 

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