RELATING TO THE POWERS OF ARTIFICIAL PERSONS.

The effective date for the new restrictions on corporate powers was changed from July 1, 3000 to January 1, 2027.

Definitions for 'election activity' and 'ballot-issue activity' were updated to explicitly list 'candidate' as an entity that can own media facilities without losing their news exemption status.

The legislative findings were revised to clarify that artificial persons possess only powers necessary for lawful business or charitable purposes, explicitly excluding election spending.

Penalties for violating the new restrictions were clarified to explicitly include the forfeiture of limited liability and perpetual duration privileges.

Added three new definitions for 'Candidate', 'Political committee', and 'Political party' to replace the previous four definitions in multiple sections.

Updated the bill title to include 'State-Chartered Credit Unions' and reordered the list of covered entities.

Adjusted formatting in the list of corporate powers, changing the introduction from 'power:' to 'power[:] to:' and removing the word 'To' from the start of each power item.

Removed specific metadata lines regarding file timestamps and revision numbers from the header.

The effective date for the new corporate power limitations was changed from July 1, 2027, to July 1, 3000.

The bill now explicitly revokes all prior grants of corporate powers, requiring entities to possess only those powers specifically granted by the new text rather than relying on historical broad grants.

Penalties for violations were expanded to include the automatic forfeiture of charter privileges such as limited liability and perpetual duration, in addition to administrative fines.

Definitions for key terms like 'election activity' and 'ballot-issue activity' were added and standardized across different entity types to ensure consistent application.

New definitions were added to clarify that 'election activity' and 'ballot-issue activity' involve spending money to support or oppose candidates or measures, while explicitly excluding bona fide news stories and editorials unless owned by a political entity.

The bill mandates that all artificial persons (corporations, LLCs, etc.) possess only powers necessary for lawful business, explicitly excluding the power to engage in election or ballot-issue activity.

New enforcement mechanisms were created, allowing the Attorney General and Director of Commerce and Consumer Affairs to impose penalties such as suspension of operations, revocation of tax-exempt status, or involuntary dissolution for violations.

The restrictions on political spending by artificial persons are set to take effect on July 1, 2027.

Exemptions were added for candidate committees, which are granted the power to engage in election activity, and for bona fide news commentary distributed through independent media facilities.

The date entities must stop expending money on election activities was moved from January 1, 2027, to July 1, 2027.

The nonseverability provision was updated to state that if a court invalidates any part of the Act, the entire Act loses all legal effect.

The document header was changed from 'HOUSE OF REPRESENTATIVES' to 'SENATE FLOOR AMENDMENT', and the amendment structure was reorganized.

The effective date for the ban on artificial persons (like corporations and LLCs) spending money on elections was changed from January 1, 2027, to July 1, 2027.

The bill's header was updated to identify it as an amendment offered by the House of Representatives rather than the Senate.

The non-severability clause was updated to ensure that if a court strikes down any part of the law, the entire law becomes invalid instead of allowing the remaining parts to stay in effect.

Added specific definitions for 'candidate', 'candidate committee', 'political committee', and 'political party' to clarify who is covered by the restrictions.

Changed the definition of 'artificial-person powers' to explicitly exclude any power to engage in election activity or ballot-issue activity, removing previous ambiguity.

Added a specific prohibition effective January 1, 2027, stating that artificial persons shall not have the power to expend money on election or ballot-issue activity.

Modified the powers granted to corporations and nonprofits to remove clauses allowing donations for public welfare or to aid governmental policy, narrowing the scope of permissible activities.

Created new chapters in the Hawaii Revised Statutes to authorize the Attorney General and Director of Commerce and Consumer Affairs to impose penalties, including suspension, revocation of tax-exempt status, and involuntary dissolution for violations.