THE SENATE

S.B. NO.

1270

TWENTY-SIXTH LEGISLATURE, 2011

S.D. 2

STATE OF HAWAII

H.D. 1

 

 

 

 

 

A BILL FOR AN ACT

 

 

RELATING TO THE HAWAII HURRICANE RELIEF FUND.

 

 

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

 

     SECTION 1.  This Act is recommended by the governor for immediate passage in accordance with section 9 of article VII of the Hawaii State Constitution.

     SECTION 2.  Hawaii is facing one of the most challenging economic periods in its history.  Current economic conditions have necessitated difficult decisions by the State to balance an already precarious budget.  The reduction-in-force in state government has reduced services to the public and has also had an adverse effect on the efficiency and effectiveness of certain key operational areas.  Funding reductions have also affected the State's ability to provide services to those who are most vulnerable to setbacks during this time of economic uncertainty and have affected the State's ability to fuel and sustain an economic recovery.

     The council on revenues has also reduced its estimate of general fund revenues for fiscal year 2010-2011.

     The purpose of this Act is to appropriate Hawaii hurricane relief fund moneys into the general fund to make funds available to balance the State's budget for fiscal year 2010-2011 and to maintain the levels of programs determined to be essential for education, public health, and public welfare.

     This Act also establishes a mechanism for the automatic replenishment of the Hawaii hurricane relief fund in subsequent fiscal years.

     SECTION 3.  Notwithstanding provisions of chapter 431P, Hawaii Revised Statutes, to the contrary, there is appropriated out of the Hawaii hurricane relief fund the sum of $42,000,000 or so much thereof as may be necessary for fiscal year 2010-2011 to be deposited into the general fund to balance the State's budget and maintain the levels of programs determined to be essential for education, public health, and public welfare.

     SECTION 4.  Section 237-31, Hawaii Revised Statutes, is amended to read as follows:

     "§237-31  Remittances.  All remittances of taxes imposed by this chapter shall be made by money, bank draft, check, cashier's check, money order, or certificate of deposit to the office of the department of taxation to which the return was transmitted.  The department shall issue its receipts therefor to the taxpayer and shall pay the moneys into the state treasury as a state realization, to be kept and accounted for as provided by law; provided that:

     (1)  The sum from all general excise tax revenues realized by the State that represents the difference between $45,000,000 and the proceeds from the sale of any general obligation bonds authorized for that fiscal year for the purposes of the state educational facilities improvement special fund shall be deposited in the state treasury in each fiscal year to the credit of the state educational facilities improvement special fund; [and]

     (2)  A sum, not to exceed $5,000,000, from all general excise tax revenues realized by the State shall be deposited in the state treasury in each fiscal year to the credit of the compound interest bond reserve fund[.]; and

     (3)  (A)  $21,000,000 from all general excise tax revenues realized by the State shall be deposited into the Hawaii hurricane relief fund during fiscal year 2013-2014; and

         (B)  $21,000,000 from all general excise tax revenues realized by the State shall be deposited into the Hawaii hurricane relief fund during fiscal year 2014-2015.

          The deposit required for a fiscal year shall be made by September 1 of that fiscal year."

     SECTION 5.  Statutory material to be repealed is bracketed and stricken.  New statutory material is underscored.

     SECTION 6.  This Act shall take effect upon its approval.

Report Title:

State Budget; Hawaii Hurricane Relief Fund; Appropriation

 

Description:

Appropriates funds from the Hawaii hurricane relief fund to the general fund for the purpose of balancing the state budget in fiscal year 2010-2011.  Establishes a mechanism for the automatic replenishment of the Hawaii hurricane relief fund from general excise tax revenues.  (SB1270 HD1)

 

 

 

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