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HOUSE OF REPRESENTATIVES |
H.B. NO. |
2542 |
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TWENTY-FIFTH LEGISLATURE, 2010 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO NON-GENERAL FUNDS.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The severe recession of 2008 swept across the nation and many parts of the world with unanticipated force and brought with it enormous challenges for governments at all levels. Its effects on businesses and employment are still being felt today. This has had a profound impact on Hawaii in terms of tax revenues and the state budget.
The legislature finds that due to the extraordinary fiscal circumstances the State is facing, non-general funds must be reviewed and scrutinized to determine if there are excess balances available. The legislature further finds that transfers of excess balances are needed to help address the critical budget shortfall in fiscal year 2009-2010.
The purpose of this Act is to help address the fiscal year 2009-2010 budget shortfall by transferring a total of $10,000,000 in excess balances from various non-general funds.
SECTION 2. The legislature determines that there is in the wireless enhanced 911 fund at least $5,000,000 in excess of the requirements of the fund. On June 1, 2010, the director of finance is authorized to transfer from the wireless enhanced 911 fund to the general fund the sum of $5,000,000 or so much thereof as may be necessary for fiscal year 2009-2010.
SECTION 3. The legislature determines that there is in the state motor pool revolving fund at least $500,000 in excess of the requirements of the fund. On June 1, 2010, the director of finance is authorized to transfer from the state motor pool revolving fund to the general fund the sum of $500,000 or so much thereof as may be necessary for fiscal year 2009-2010.
SECTION 4. The legislature determines that there is in the state risk management revolving fund at least $1,000,000 in excess of the requirements of the fund. On June 1, 2010, the director of finance is authorized to transfer from the state risk management revolving fund to the general fund the sum of $1,000,000 or so much thereof as may be necessary for fiscal year 2009-2010.
SECTION 5. The legislature determines that there is in the medicaid investigations recovery fund at least $1,500,000 in excess of the requirements of the fund. On June 1, 2010, the director of finance is authorized to transfer from the medicaid investigations recovery fund to the general fund the sum of $1,500,000 or so much thereof as may be necessary for fiscal year 2009-2010.
SECTION 6. The legislature determines that there is in the University of Hawaii housing assistance revolving fund at least $2,000,000 in excess of the requirements of the fund. On June 1, 2010, the director of finance is authorized to transfer from the University of Hawaii housing assistance revolving fund to the general fund the sum of $2,000,000 or so much thereof as may be necessary for fiscal year 2009-2010.
SECTION 7. This Act shall take effect upon its approval.
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INTRODUCED BY: |
_____________________________ |
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By Request |
Report Title:
Transfer of Non-general Funds
Description:
Addresses the fiscal year 2009-2010 budget shortfall by transferring to the general fund a total of $10,000,000 in excess balances from certain special funds.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.