Changes the fiscal year for county fiscal administration purposes.

A BILL FOR AN ACT

SECTION 1. Section 46-41, Hawaii Revised Statutes, is amended to read as follows:

"§46-41 Budgets; financial records on fiscal year basis. Except as otherwise provided in this chapter, all counties [shall] may maintain accounting and financial records on a fiscal year basis, beginning on July 1 of [one] a calendar year and ending on June 30 of the next succeeding calendar year. Counties may prepare a budget for a one-or two-year period; provided that accounting and financial records are maintained on a fiscal year basis as described above."

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 Statutory material to be repealed is bracketed and stricken.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.