REPORT TITLE:
Excess Revenues


DESCRIPTION:
Proposes to repeal section 6, article VII, of the Hawaii
Constitution pertaining to the disposition of excess revenues.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                            597         
HOUSE OF REPRESENTATIVES                H.B. NO.           
TWENTIETH LEGISLATURE, 1999                                
STATE OF HAWAII                                            
                                                             
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                   A  BILL  FOR  AN  ACT

PROPOSING TO REPEAL ARTICLE VII, SECTION 6, OF THE HAWAII
   CONSTITUTION RELATING TO THE DISPOSITION OF EXCESS REVENUES.



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

 1      SECTION 1.  The purpose of this Act is to propose the repeal
 
 2 of article VII, section 6, of the Constitution of the State of
 
 3 Hawaii.
 
 4      SECTION 2.  Article VII, section 6, of the Constitution of
 
 5 the State of Hawaii is repealed.
 
 6                 ["DISPOSITION OF EXCESS REVENUES
 
 7      Section 6.  Whenever the state general fund balance at the
 
 8 close of each of two successive fiscal years exceeds five percent
 
 9 of general fund revenues for each of the two fiscal years, the
 
10 legislature in the next regular session shall provide for a tax
 
11 refund or tax credit to the taxpayers of the State, as provided
 
12 by law."]
 
13      SECTION 3.  The question to be printed on the ballot shall
 
14 be as follows:
 
15      "Shall the current constitutional provisions on the
 
16      disposition of excess revenues by tax refund or tax credit
 
17      to the taxpayers of the State be repealed?"
 
18      SECTION 4.  Constitutional material to be repealed is
 
19 bracketed.
 

 
Page 2                                         597         
                                     H.B. NO.           
                                                        
                                                        


 1      SECTION 5.  This amendment shall take effect upon compliance
 
 2 with article XVII, section 3, of the Constitution of the State of
 
 3 Hawaii.
 
 4 
 
 5                           INTRODUCED BY:  _______________________