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HOUSE OF REPRESENTATIVES |
H.B. NO. |
283 |
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TWENTY-SIXTH LEGISLATURE, 2011 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO STATE FUNDS.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The purpose of this Act is to address state funds. More specifically, this Act temporarily:
(1) Suspends the authority of the department of agriculture to make, insure, guarantee, or participate in new loans under the agricultural and aquaculture loan programs;
(2) Requires moneys in or received by the agricultural loan revolving fund and aquaculture loan revolving fund to be transferred to the general fund; and
(3) Appropriates amounts transferred into the general fund pursuant to this Act to the department of agriculture and the Hawaii Farm Bureau Federation.
This Act takes effect on July 1, 2011, and will be repealed on June 30, 2013.
The legislature intends to consider replenishing the capital of the agricultural loan revolving fund and aquaculture loan revolving fund to enable new loans to be made after June 30, 2013.
SECTION 2. Chapter 155, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:
"§155- Temporary suspension of new loans; deposit of moneys into general fund. (a) From July 1, 2011, to June 30, 2013, the department of agriculture shall not make, insure, guarantee, or participate in any new loan under this chapter.
For the purposes of this section, a "new loan" means a loan that was not in effect on June 30, 2011.
(b) On July 1, 2011, any unexpended and unencumbered moneys in the agricultural loan revolving fund shall be transferred to the general fund.
(c) Between July 1, 2011, and June 30, 2013, any moneys received by the department of agriculture and deposited into the agricultural loan revolving fund pursuant to this chapter, after deposit, shall be immediately transferred to the general fund.
(d) The legislature intends to replace all or some of the capital transferred to the general fund pursuant to this section beginning in fiscal year 2013-2014, subject to the availability of funds."
SECTION 3. Chapter 219, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:
"§219- Temporary suspension of new loans; deposit of moneys into general fund. (a) From July 1, 2011, to June 30, 2013, the department of agriculture shall not make, insure, or participate in any new loan under this chapter.
For the purposes of this section, a "new loan" means a loan that was not in effect on June 30, 2011.
(b) On July 1, 2011, any unexpended and unencumbered moneys in the aquaculture loan revolving fund shall be transferred to the general fund.
(c) Between July 1, 2011, and June 30, 2013, any moneys received by the department of agriculture and deposited into the aquaculture loan revolving fund pursuant to this chapter, after deposit, shall be immediately transferred to the general fund.
(d) The legislature intends to replace all or some of the capital transferred to the general fund pursuant to this section beginning in fiscal year 2013-2014, subject to the availability of funds."
SECTION 4. (a) There is appropriated out of the general revenues of the State of Hawaii the sum of $ or so much thereof as may be necessary for fiscal year 2011-2012 and the sum of $ or so much thereof as may be necessary for fiscal year 2012-2013 for the operation of the department of agriculture.
The sums appropriated shall be expended by the department of agriculture for the purposes of this Act.
(b) There is appropriated out of the general revenues of the State of Hawaii the sum of $ or so much thereof as may be necessary for fiscal year 2011-2012 and the sum of $ or so much thereof as may be necessary for fiscal year 2012-2013 as a grant-in-aid for the Hawaii Farm Bureau Federation for activities supporting the farmers of Hawaii.
The sums appropriated shall be expended by the department of budget and finance for the purposes of this Act.
(c) The legislature finds that the total appropriation in this section for each fiscal year approximates the amount transferred to the general fund in that fiscal year pursuant to this Act.
SECTION 5. New statutory material is underscored.
SECTION 6. This Act shall take effect on July 1, 2011, and shall be repealed on June 30, 2013.
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INTRODUCED BY: |
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Report Title:
Agricultural and Aquaculture Loan Programs; Temporary Suspension of New Loans
Description:
Temporarily suspends the authority of the department of agriculture to make, insure, guarantee, or participate in new agricultural or aquaculture loans. Temporarily requires moneys in the agricultural loan revolving fund and aquaculture loan revolving fund to be transferred to the general fund. Appropriates funds for operation of the department of agriculture and the Hawaii Farm Bureau Federation. Takes effect on 7/1/10, and is repealed on 6/30/13.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.