Hawaii HB149 mandates corporations to report expenditures and contributions to shareholders.
Hawaii HB149 requires domestic and foreign corporations to report expenditures, contributions to noncandidate committees, and contributions to candidate committees to their shareholders. This report must include the specific monetary or nonmonetary benefit that accrued to the corporation as a direct result of these activities. The report must be delivered to shareholders at the same time the corporation's annual report is filed. The purpose is to provide shareholders with information, deter corruption, and ensure compliance with reporting and disclosure requirements.
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