Report Title:
Honolulu Symphony; Endowment Fund; Lapse Date
Description:
Extends the date on which a $4,000,000 appropriation to the State of Hawaii Endowment Fund (which was authorized pursuant to Act 97, SLH 2006, as amended by Act 156, SLH 2007) is to lapse to the general fund, from June 30, 2009 to June 30, 2011.
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
381 |
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TWENTY-FIFTH LEGISLATURE, 2009 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to the state of hawaii endowment fund.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Act 97, Session Laws of Hawaii 2006, section 2, as amended by Act 156, Session Laws of Hawaii 2007, section 1, is amended to read as follows:
"SECTION 2. There is appropriated out of
the general revenues of the State of Hawaii the sum of $4,000,000 or so much
thereof as may be necessary for fiscal year 2006-2007 to be deposited into the
State of Hawaii endowment fund, from which the income and capital gains shall
be used for the production of music by an Oahu-based symphony orchestra;
provided that the funds appropriated in this section are matched,
dollar-for-dollar, by private funds or pledges pursuant to section 40-88,
Hawaii Revised Statutes. Any unexpended or unencumbered balances from the
appropriation shall lapse on June 30, [2009.] 2011.
The sum appropriated shall be expended by the
department of accounting and general services for the purposes of this
Act."
SECTION 2. Statutory material to be repealed is bracketed and stricken.
New statutory material is underscored.
SECTION 3. This Act shall take effect on June 29, 2009.
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INTRODUCED BY: |
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