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Bill

Bill

SB 1665

RELATING TO FOREIGN CRITICAL ASSETS.

2026 Regular Session

Hawaii bill requiring disclosure and oversight of foreign ownership in critical infrastructure sectors to protect state security and economic control.

Re-Referred to WLA, CPN/JDC.
#criticalinfrastructure #foreigninvestment #limitation #report
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Bill Summary · SB 1665

Legislative bill overview

SB 1665 establishes regulatory framework and oversight mechanisms for foreign ownership, control, or influence over critical assets and infrastructure in Hawaii. The bill likely requires disclosure, approval, or restrictions on foreign entities acquiring stakes in sectors such as energy, telecommunications, agriculture, water systems, and defense-related industries that impact state security and economic sovereignty.

Why is this important

Critical infrastructure controls essential services that residents depend on daily—power grids, water supply, communications networks. Foreign control of these systems raises concerns about potential vulnerabilities during conflicts, data security, supply chain disruption, and Hawaii's strategic position in the Pacific. The bill addresses whether state or federal authorities should monitor and regulate such transactions.

Potential points of contention

  • Economic impact vs. security: Restricting foreign investment may deter capital, job creation, and business development, while proponents argue security justifies limitations
  • Defining "critical assets": Determining which industries qualify is contentious—overly broad definitions burden businesses; narrow ones miss genuine vulnerabilities
  • Jurisdictional conflict: Hawaii may lack authority to regulate foreign investment already subject to federal CFIUS (Committee on Foreign Investment) review, creating redundancy or legal conflicts
  • Trade implications: Discriminatory policies against specific countries could violate trade agreements and invite retaliatory measures against Hawaii businesses

Compiled from official sources — confirm details with the bill’s official record.

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