2570
HOUSE OF REPRESENTATIVES                H.B. NO.           
TWENTIETH LEGISLATURE, 2000                                
STATE OF HAWAII                                            
                                                             
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                   A  BILL  FOR  AN  ACT

RELATING TO THE BOATING SPECIAL FUND.



BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 1      SECTION 1.  Chapter 36, Hawaii Revised Statutes, is amended
 
 2 by adding a new section to be appropriately designated and to
 
 3 read as follows:
 
 4      "§36-     Transfer from boating special fund.  Any other law
 
 5 to the contrary notwithstanding, including section 36-27, there
 
 6 shall be deducted from time to time by the director of finance
 
 7 for the purpose of defraying the prorated estimate of central
 
 8 service expenses of government in relation to the boating special
 
 9 fund, five per cent of all receipts and deposits in the boating
 
10 special fund after subtracting therefrom any amounts pledged,
 
11 charged, or encumbered for the payment of bonds or interest
 
12 thereon during the time period for which the deduction is to be
 
13 made.  The deductions shall be transferred to the general fund of
 
14 the State and shall become general realizations of the State.
 
15 For the purpose of this section, the term "any amounts pledged,
 
16 charged, or encumbered for the payment of bonds or interest
 
17 thereon" shall include:
 
18      (1)  Amounts that are so pledged, charged, or encumbered;
 
19           and
 

 
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 1      (2)  Amounts required by law to be paid from the boating
 
 2           special fund into the general fund of the State to
 
 3           reimburse the general fund for bond requirements for
 
 4           general obligation bonds issued for boating facility
 
 5           purposes.
 
 6      The chairperson of the board of land and natural resources
 
 7 shall cooperate with the director of finance in effecting the
 
 8 transfer."
 
 9      SECTION 2.  New statutory material is underscored.
 
10      SECTION 3.  This Act shall take effect on July 1, 2000. 
 
11 
 
12                           INTRODUCED BY:  _______________________
 

 
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