STAND. COM. REP. NO. 1972

Honolulu, Hawaii

, 2025

RE: S.B. No. 1048

S.D. 2

H.D. 2

Honorable Nadine K. Nakamura

Speaker, House of Representatives

Thirty-Third State Legislature

Regular Session of 2025

State of Hawaii

Madame:

Your Committee on Finance, to which was referred S.B. No. 1048, S.D. 2, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO SOLICITATION OF FUNDS FROM THE PUBLIC,"

begs leave to report as follows:

The purpose of this measure is to amend Act 205, Session Laws of Hawaii 2024, by:

(1) Clarifying definitions for platform charities and charitable fundraising platforms;

(2) Creating separate registration, reporting, and fee requirements that are specific to platform charities and charitable fundraising platforms;

(3) Updating provisions on prohibited acts, enforcement powers, and remedies; and

(4) Extending its effective date to July 1, 2026.

Your Committee received testimony in support of this measure from the Department of the Attorney General; GoFundMe; and Hawaiʻi Community Foundation.

Your Committee has amended this measure by:

(1) Changing the effective date to July 1, 3000, to encourage further discussion; and

(2) Making technical, nonsubstantive amendments for the purposes of clarity, consistency, and style.

As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1048, S.D. 2, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 1048, S.D. 2, H.D. 2.

Respectfully submitted on behalf of the members of the Committee on Finance,

____________________________

KYLE T. YAMASHITA, Chair