THE SENATE	S.B. NO.	2797
TWENTY-FIFTH LEGISLATURE, 2010
STATE OF HAWAII

A BILL FOR AN ACT

relating to voluntary employees' beneficiary ASSOCIATION trusts.

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

     SECTION 1.  Act 245, Session Laws of Hawaii 2005, as amended by Act 294, Session Laws of Hawaii 2007, section 2, Act 16, Session Laws of Hawaii 2008, section 18, and Act 5, Special Session Laws of Hawaii 2008, section 1, is amended by amending section 8 to read as follows:

     "SECTION 8.  This Act shall take effect upon its approval[, for the purpose of establishing a voluntary employees' beneficiary association trust pilot program in March, 2006, and shall be repealed on July 1, 2010; provided that sections 89‑2, 89‑3, 89‑6, and 89‑9, Hawaii Revised Statutes, are reenacted in the form in which they read on the day before the effective date of this Act; and provided further that the amendments made to section 89‑6, Hawaii Revised Statutes, by Act 202, Session Laws of Hawaii 2005, shall not be repealed when that section is reenacted on July 1, 2009]."

     SECTION 2.  Statutory material to be repealed is bracketed and stricken.

     SECTION 3.  This Act shall take effect on June 30, 2010.

INTRODUCED BY:

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Report Title:

Voluntary Employees' Beneficiary Association Trusts

Description:

Makes permanent the voluntary employees' beneficiary association trusts, established in 2005 as a temporary program.

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