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THE SENATE |
S.B. NO. |
2988 |
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TWENTY-SIXTH LEGISLATURE, 2012 |
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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. Chapter 36, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:
"§36- Debt service; restructuring. The director of finance may restructure the debt service for state obligations; provided that any such restructuring shall take into consideration the long-term financial obligations of the State and shall not be undertaken solely to provide short-term savings."
SECTION 2. New statutory material is underscored.
SECTION 3. This Act shall take effect on July 1, 2012.
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INTRODUCED BY: |
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Report Title:
State Funds; Debt Service; Restructuring
Description:
Authorizes the director of finance to restructure the debt service for state obligations; provided that any such restructuring shall take into consideration the long-term financial obligations of the State and shall not be undertaken solely to provide short-term savings.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.