REPORT TITLE:
Utility Undergrounding Fund


DESCRIPTION:
Establishes a Utility Undergrounding Special Fund.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                        3152
THE SENATE                              S.B. NO.           
TWENTIETH LEGISLATURE, 2000                                
STATE OF HAWAII                                            
                                                             
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                   A  BILL  FOR  AN  ACT

RELATING TO PUBLIC UTILITIES. 


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

 1      SECTION 1.  Chapter 269, Hawaii Revised Statutes, is amended
 
 2 by adding a section to be appropriately designated and to read as
 
 3 follows:
 
 4      "§269-    Utility undergrounding special fund; established.
 
 5 (a)  There is established in the state treasury a utility
 
 6 undergrounding special fund to be administered by the public
 
 7 utilities commission and into which shall be deposited moneys
 
 8 derived from excess funds generated under section 269-33(d),
 
 9 legislative appropriations, and any interest accrued thereon.
 
10 The moneys contained in the fund shall be used by the public
 
11 utilities commission to assist public utilities in offsetting the
 
12 costs associated with undergrounding utility lines in the form of
 
13 grants.  The public utilities commission shall adopt rules
 
14 pursuant to chapter 91 to effectuate the grant application and
 
15 approval process.
 
16      (b)  The public utilities commission shall submit a report
 
17 to the legislature detailing all funds received and all moneys
 
18 disbursed out of the fund prior to the convening of each regular
 
19 session.
 

 
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                                     S.B. NO.           
                                                        
                                                        

 
 1      (c)  All revenues, proceeds, and interest derived from
 
 2 moneys in the utility undergrounding special fund shall remain in
 
 3 the fund and shall not lapse to the credit of the state general
 
 4 fund."
 
 5      SECTION 2.  Section 269-33, Hawaii Revised Statutes, is
 
 6 amended by amending subsection (d) to read as follows:
 
 7      "(d)  All moneys in excess of $1,000,000 remaining on
 
 8 balance in the public utilities commission special fund on
 
 9 June 30 of each year shall [lapse to the credit of the state
 
10 general fund.] be deposited into the utility undergrounding
 
11 special fund established pursuant to section 269-  ."
 
12      SECTION 3.  Statutory material to be repealed is bracketed.
 
13 New statutory material is underscored.
 
14      SECTION 4.  This Act shall take effect upon its approval.
 
15 
 
16                           INTRODUCED BY:  _______________________