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Committee backs SB1048 to revise Hawaii crowdfunding rules tied to Act 205; GoFundMe supports changes
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 earlier law created challenges for rapid charitable fundraising during disasters. Richardson said SB1048 would prevent slowdowns in donations, reduce administrative burdens on nonprofits, and preserve donor protections while allowing the Attorney General discretion to waive requirements for platforms that meet standards. The bill also addresses registration, waiting periods, bonding, data minimization, due-process in good-standing provisions, and delayed effective dates to allow stakeholder engagement.
The Department of the Attorney General provided proposed amendments and technical changes; the committee adopted those AG-recommended amendments at decision making and defected the effective date to July 1, 2050 to allow time for implementation. Committee members recorded no formal objections on the floor when voting to pass the measure with the attorney general’s amendments.
Stakeholders signaled willingness to continue working with the AG’s office and the committee on details, particularly around data-retention practices and emergency exemptions for disaster fundraising.
