Prevents any monies in the Highway Development Special Fund from lapsing or being transferred to the general fund.

A BILL FOR AN ACT

SECTION 1. The aim of this Act is to safeguard the Highway Development Special Fund by prohibiting the transfer of such funds to the general fund. This Act shall be known as the "Highway Development Fund Preservation Act of 2005".

SECTION 2. The Legislature finds that Hawaii has an aging highway infrastructure, which must be maintained to prevent expensive rehabilitation and reconstruction projects. The Legislature also finds there is a greater need to preserve and protect the Highway Development Special Fund, as additional federal funds may not be available to meet Hawaii's increasing highway maintenance costs. The purpose of this Act is to preserve funding to maintain Hawaii's 2,400 lane miles of roadway.

SECTION 3. Chapter 264-122, Hawaii Revised Statutes, is amended by adding a new subpart (d) to be appropriately designated and to read as follows:

"(d) Notwithstanding an other provision of law, no moneys deposited into the highway development special fund shall lapse or be transferred to the general fund."

SECTION 4. This Act shall take effect upon its approval.