REPORT TITLE:
Rural Empowerment zones


DESCRIPTION:
Authorizes bonds to be issued to establish a qualified zone
academy to be known as Molokai middle school under the rural
empowerment zone/enterprise communities program through the
federal Community Empowerment Act.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                        3165
THE SENATE                              S.B. NO.           
TWENTIETH LEGISLATURE, 2000                                
STATE OF HAWAII                                            
                                                             
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                   A  BILL  FOR  AN  ACT

RELATING TO EDUCATION. 


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

 1      SECTION 1.  The legislature finds that in 1997 Congress
 
 2 passed legislation making funds available for governments to
 
 3 issue Qualified Zone Academy Bonds to establish Qualified Zone
 
 4 Academies in those areas designated as empowerment zones or
 
 5 enterprise communities.  In 1999, Congress extended this program
 
 6 making additional funds available in 2000 and 2001.  This federal
 
 7 program was created to help educators and employers work together
 
 8 to ensure that students in economically depressed areas will have
 
 9 the education and skills to be prepared to work in today's
 
10 competitive global economy.
 
11      The community of Molokai has been selected as an enterprise
 
12 community under this innovative federal program and is eligible
 
13 to receive a variety of tax benefits, loans, and grants from the
 
14 federal government to help the people of Molokai.
 
15      The purpose of this Act is to enable the community of
 
16 Molokai to take advantage of its federal designation as an
 
17 enterprise community by authorizing the issuance of bonds to
 
18 establish a Qualified Zone Academy to be known as the Molokai
 
19 middle school. 
 

 
Page 2                                                     3165
                                     S.B. NO.           
                                                        
                                                        

 
 1      SECTION 2.  The director of finance is authorized to issue
 
 2 bonds in the sum of $        or so much thereof as may be
 
 3 necessary and the same sum or so much thereof as may be necessary
 
 4 is appropriated for fiscal year 2000-2001 to establish a
 
 5 Qualified Zone Academy to be known as the Molokai middle school.
 
 6      SECTION 3.  The sum appropriated shall be expended by the
 
 7 department of accounting and general services for the purpose of
 
 8 this Act.
 
 9      SECTION 4.  This Act shall take effect upon its approval.
 
10 
 
11                       INTRODUCED BY:  ___________________________