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Committee backs SB1048 to revise Hawaii crowdfunding rules tied to Act 205; GoFundMe supports changes
2255444 · February 6, 2025
AI-Generated Content: All content on this page was generated by AI to highlight key points from the meeting. For complete details and context, we recommend watching the full video. so we can fix them.
Summary
SB1048 would amend Act 205 to clarify safeguards and reduce burdens on online fundraising platforms and nonprofits; the committee adopted attorney general amendments and delayed the effective date.
SB1048, a bill to amend Act 205 (2024) and clarify safeguards, standards and administrative requirements for online crowdfunding and solicitation of funds from the public, was heard Feb. 10, 2025 by the Senate Committee on Commerce and Consumer Protection.
Margaret Richardson, chief corporate affairs officer at GoFundMe, testified in support, saying the…
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