HOUSE OF REPRESENTATIVES	H.B. NO.	54
THIRTY-FIRST LEGISLATURE, 2021		H.D. 1
STATE OF HAWAII		S.D. 1
		C.D. 1

A BILL FOR AN ACT

RELATING TO THE STATE BUDGET.

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

PART I

SECTION 1. There is appropriated out of the general revenues of the State of Hawaii the sum of $250,000,000 or so much thereof as may be necessary for fiscal year 2020-2021 to be deposited into the emergency and budget reserve fund established pursuant to section 328L-3, Hawaii Revised Statutes.

The sum appropriated shall be expended by the department of budget and finance for the purposes of this Act.

SECTION 2. There is appropriated out of the general revenues of the State of Hawaii the sum of $390,000,000 or so much thereof as may be necessary for fiscal year 2020-2021 to provide the actuarially required contribution for other post-employment benefits.

The sum appropriated shall be expended by the department of budget and finance for the purposes of this Act.

PART II

SECTION 3. House Bill No. 200, H.D. 1, S.D. 1, C.D. 1, passed by the legislature during the regular session of 2021 is amended by adding two new sections to read as follows:

"SECTION 4.1. There is appropriated out of the general revenues of the State of Hawaii the sum of $78,923,678 or so much thereof as may be necessary for fiscal year 2021-2022 for Debt Service Payments – State; provided that of the general fund appropriation for debt service under this section for fiscal biennium 2021-2023, balances that are unrequired for debt service payments may be used to pay for expenses related to section 39-14, Hawaii Revised Statutes, and for costs of bond issuance, or may be transferred to retirement benefits payments (BUF741-BUF748) and health premium payments (BUF761-BUF768); provided further that the funds shall not be expended for any other purpose; provided further that any unexpended funds shall lapse into the general fund at the end of the respective fiscal year for which the appropriation was made.

The sum appropriated shall be expended by the department of budget and finance for the purposes of this section.

SECTION 4.2. There is appropriated out of the funds received by the State of Hawaii from the American Rescue Plan Act of 2021, Public Law 117-2 (Section 9901) the sum of $103,787,677 or so much thereof as may be necessary for fiscal year 2022-2023 to be used for Debt Service Payments – State; provided that of the appropriation of funds received by the State of Hawaii from the American Rescue Plan Act of 2021, Public Law 117-2 (Section 9901) for debt service under this section for fiscal biennium 2021-2023, balances that are unrequired for debt service payments may be used to pay for expenses related to section 39-14, Hawaii Revised Statutes, and for costs of bond issuance, or may be transferred to retirement benefits payments (BUF741-BUF748) and health premium payments (BUF761-BUF768); provided further that the funds shall not be expended for any other purpose; provided further that any unexpended funds shall lapse into the general fund at the end of the respective fiscal year for which the appropriation was made.

The sum appropriated shall be expended by the department of budget and finance for the purposes of this section."

SECTION 4. New statutory material is underscored.

SECTION 5. This Act shall take effect upon its approval; provided that sections 1 and 2 shall take effect retroactively on June 30, 2021.

Report Title:

Emergency and Budget Reserve Fund; OPEB; Debt Service; Appropriation

Description:

Effective 6/30/2021, appropriates funds into the emergency and budget reserve fund and makes payments for other post-employment benefits. Appropriates funds for debt service. (CD1)

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.