Report Title:

Petroleum Industry Monitoring, Analysis, and Reporting Special Fund

 

Description:

Appropriates funds for the petroleum industry monitoring, analysis, and reporting special fund for staffing positions to carry out the purpose of the fund.

 

THE SENATE

S.B. NO.

990

TWENTY-FOURTH LEGISLATURE, 2007

 

STATE OF HAWAII

 

 

 

 

 

A BILL FOR AN ACT

 

 

relating to petroleum industry monitoring.

 

 

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

 

     SECTION 1.  The legislature finds that Act 78, Session Laws of Hawaii 2006, requires the public utilities commission to establish the petroleum industry monitoring, analysis, and reporting program.  In addition, the petroleum industry monitoring, analysis, and reporting special fund was established by Act 78 to be administered by the public utilities commission for its namesake purpose.  However, only $1 was appropriated for its purpose.

     The purpose of this Act is to provide consumers with true and effective transparency of petroleum industry pricing methods by appropriating funds to the petroleum industry monitoring, analysis, and reporting special fund

     SECTION 2.  There is appropriated out of the general revenues of the State of Hawaii the sum of $300,000, or so much thereof as may be necessary for fiscal year 2007-2008, and the same sum, or so much thereof as may be necessary for fiscal year 2008-2009, to be paid into the petroleum industry monitoring, analysis, and reporting special fund created in section 486J‑5.6, Hawaii Revised Statutes.

     SECTION 3.  There is appropriated out of the petroleum industry monitoring, analysis, and reporting special fund created in section 486J-5.6, Hawaii Revised Statutes, the sum of $300,000, or so much thereof as may be necessary for fiscal year 2007-2008, and the same sum, or so much thereof as may be necessary for fiscal year 2008-2009, for staff positions and to carry out the purposes of the special fund.

     The sums appropriated by this section shall be expended by the public utilities commission for the purposes of this fund.

     SECTION 4.  This Act shall take effect upon approval.

 

INTRODUCED BY:

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