Authorizes the Comptroller to exercise discretion to deposit money received from the settlement of claims or losses of the State into an affected agency's account instead of the State risk Management Revolving Fund.

A BILL FOR AN ACT

SECTION 1. Section 41D-4, Hawaii Revised Statutes, is amended by amending subsection (g) to read as follows:

"(g) Money received from the settlement of claims or losses of the State as delineated in subsection (a) shall be deemed to be trust moneys and may be deposited into the state risk management revolving fund [.] or into a trust account with and under the control the affected agency at the discretion of the comptroller. These moneys and any interest earned thereon shall be used for the purpose identified in any such settlement."

SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 3. This Act shall take effect on July 1, 2006.