If it's a glowstick attached along the float then its bottom end is for sure submerged as well as attached to the line, and if you have 3ft(1m) to the hook then you should be fine.
The way I see it the regulations are primarily intended against really bright lights like using your headlights or large spot lights. Those are the type of lights that can attract fish.
These methods are actually applied legally in commercial fishing for night time species in many parts of the world. They either shine monstrous spotlights into the depths or launch something like a downward underwater fireworks to illuminate a large area. Tiny glowstick isn't going to draw much attention by any fish.
Also why would they specify "1m to hook and attached to the line" instead of just saying "no lights involved in any fishing gear, period"?
Anyway, you can read it anyway you want, I dont use glowsticks but would hate to see some decent guy's day ruined by sjw's first thing in the morning.