Report Title:

Economic Stimulus; Federal Spending; Matching Funds

Description:

Directs the state Director of Finance to release funds for county projects required to match funds counties are to receive from the  federal stimulus program within fifteen days of receipt of federal funds and to release funds for state projects required to match funds the State is to receive from the federal stimulus program within thirty days of receipt of federal funds.

HOUSE OF REPRESENTATIVES	H.B. NO.	1829
TWENTY-FIFTH LEGISLATURE, 2009
STATE OF HAWAII

A BILL FOR AN ACT

relating to economic stimulus.

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

SECTION 1.  With Congress on the verge of passing the massive $825,000,000 economic stimulus plan, President Barack Obama, on Wednesday, January 28, 2009, stated that he envisions the money going "out the door immediately" once Congress acts.  However, many parts of the stimulus plan that go to directly benefit state and county projects require matching funds from the states and municipalities.

The purpose of this Act is to keep in step with the federal economic stimulus program and require that the state director of finance release needed matching funds for county and state projects within fifteen and thirty days, respectively, to bring the benefits of the federal stimulus plan to the people of Hawaii at the earliest practicable time.

SECTION 2.  The state director of finance is directed to release funds required to match federal funds from the federal economic stimulus plan within:

     (1)  Fifteen days of the receipt of federal funds for county projects; and

     (2)  Thirty days of the receipt of federal funds for state projects.

     SECTION 3.  The governor and the mayor of each county are directed to submit annual reports to the legislature no later than twenty days prior to the convening of each regular session, with information containing:

     (1)  The dates of the receipt of the federal funds from the federal economic stimulus plan for each state and county project and the dates of the release of matching funds for each project by the state director of finance; and

     (2)  The present status of each state and county program that was funded by the federal economic stimulus plan and matching state funds.

     SECTION 4.  This Act shall take effect upon its approval and be repealed on December 31, 2012.

INTRODUCED BY:

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