§210-3 Hawaii capital loan revolving fund. (a) There is established the Hawaii capital loan revolving fund into which shall be deposited all moneys received as repayment of loans and interest payments as provided in this chapter. The department may utilize a portion of the moneys contained in the Hawaii capital loan revolving fund for programs associated with administering the fund and its mandated purpose. The department may transfer moneys from the Hawaii capital loan revolving fund established by this section to the Hawaii technology loan revolving fund established by section 206M-15.6, the state disaster revolving loan fund established by section 209-34, the Hawaii innovation development fund established by section 211E-2, or the Hawaii strategic development corporation fund established by chapter 211F, and moneys from these funds shall be disbursed by the department or the director pursuant to chapters 206M, 209, 210, 211E, and 211F, respectively. The department or the director may transfer moneys from the state disaster revolving loan fund and the Hawaii innovation development fund to the Hawaii capital loan revolving fund for disbursement pursuant to this chapter.

(b) The total amount of moneys transferred to the state disaster revolving loan fund, the Hawaii capital loan revolving fund, or the Hawaii innovation development fund shall not exceed $1,000,000 for each respective fund within the calendar year. Any transfers to or from the Hawaii technology loan revolving fund shall be approved by the corporation's board of directors.

(c) Notwithstanding subsection (b) to the contrary, the total amount of moneys transferred between the state disaster revolving loan fund and the Hawaii capital loan revolving fund or the Hawaii innovation development fund shall not exceed $1,000,000 within the calendar year if the governor proclaims a state disaster pursuant to section 209-2.

(d) The department shall report any transfer of funds made under this section to the legislature within ten days of the transfer. [L 1963, c 76, §4; Supp, §98R-4; HRS §210-3; am L 1991, c 43, §4 and c 267, §§1, 4; am L 1992, c 259, §33; am L 1996, c 143, §3; am L 1998, c 104, §3 and c 176, §15; am L 2000, c 297, §29]