Bill Text: HI HB2284 | 2024 | Regular Session | Introduced
Bill Title: Relating To The Hawaii Able Savings Program.
Spectrum: Partisan Bill (Democrat 10-0)
Status: (Introduced) 2024-02-08 - The committee(s) on HUS recommend(s) that the measure be deferred. [HB2284 Detail]
Download: Hawaii-2024-HB2284-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
2284 |
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THIRTY-SECOND LEGISLATURE, 2024 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to the hawaii able SAVINGS program.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The purpose of this Act is to:
(1) Repeal statutory language that gives the director of finance discretion to use moneys in the Hawaii ABLE savings program trust fund if the director elects to accept deposits from contributors instead of sending deposits directly to the ABLE program manager;
(2) Authorize the director of finance to expend moneys in the Hawaii ABLE savings program trust fund to provide incentive payments to Hawaii public school ABLE account owners;
(3) Make an appropriation to the department of
budget and finance to fund incentive payments to Hawaii public school ABLE
account owners; and
(4) Make an appropriation to the department of health for one full-time equivalent (1.0 FTE) permanent position to provide statewide outreach, advocacy, and relationship management for the Hawaii ABLE savings program.
SECTION 2. Section 256B-8, Hawaii Revised Statutes, is amended to read as follows:
"[[]§256B-8[]] Hawaii ABLE savings program trust fund.
(a) There is established the
Hawaii ABLE savings program trust fund within the state treasury [of
the State. The fund shall consist of],
into which shall be deposited:
(1) Any moneys received from an ABLE
savings program manager[, any];
(2) Any moneys received from
governmental or private grants[, and any general fund appropriations for];
(3) Any moneys appropriated by the
legislature to the program[.];
(4) Any moneys deposited by contributors
in accordance with this chapter that are not deposited directly with the
program manager; and
(5) All interest derived from the
deposit and investment of moneys in the trust fund.
(b) [The fund shall be used if the director
elects to accept deposits from contributors, rather than have deposits sent
directly to the program manager. The
fund shall consist of any moneys deposited by contributors in accordance with
this chapter which are not deposited directly with the program manager.] All moneys in the fund shall be expended
by the director to fulfil the purposes of this chapter, including to provide
incentive payments to Hawaii public school ABLE account owners as a means of
encouraging the participation of eligible individuals and families to save
funds; provided that the director shall maintain and keep separate records to
account for any incentive program payments.
(c) [All interest derived from the deposit and
investment of moneys in the savings program trust fund shall be credited to the
fund.] At the end of any fiscal
year, all unexpended and unencumbered moneys in the savings program trust fund
shall remain in the savings program trust fund and shall not be credited or
transferred to the general fund or any other funds.
(d) All expenses incurred by the director in developing and administering the ABLE savings program shall be payable from the Hawaii ABLE savings program trust fund."
SECTION 3. In accordance with section 9 of article VII of the Hawaii State Constitution and sections 37‑91 and 37‑93, Hawaii Revised Statutes, the legislature has determined that the appropriations contained in H.B. No. 300, H.D. 1, S.D. 1, C.D. 1, and this Act will cause the state general fund expenditure ceiling for fiscal year 2023‑2024 to be exceeded by $ or per cent. This current declaration takes into account general fund appropriations authorized for fiscal year 2023‑2024 in H.B. No. 300, H.D. 1, S.D. 1, C.D. 1, and this Act only. The reasons for exceeding the general fund expenditure ceiling are that:
(1) The appropriation made in this Act is necessary to serve the public interest; and
(2) The appropriation made in this Act meets the needs addressed by this Act.
SECTION 4. 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 2024-2025 to be deposited into the Hawaii ABLE savings program trust fund.
SECTION 5.
There is appropriated out of the Hawaii ABLE savings program
trust fund the sum of $
or so much thereof as may be necessary for fiscal year 2024-2025 to provide
incentive payments to the Hawaii public school ABLE account owners.
The
sum appropriated shall be expended by the department of budget and finance for
the purposes of this Act.
SECTION 6. There is appropriated out of the Hawaii ABLE savings program trust fund the sum of $ or so much thereof as may be necessary for fiscal year 2024-2025 for one full-time equivalent (1.0 FTE) permanent position within the state council on developmental disabilities to provide statewide outreach, advocacy, and relationship management for the Hawaii ABLE savings program.
The sum appropriated shall be expended by the department of health for the purposes of this Act.
SECTION 7.
If any provision of this Act, or the application thereof to any person
or circumstance, is held invalid, the invalidity does not affect other
provisions or applications of the Act that can be given effect without the
invalid provision or application, and to this end the provisions of this Act
are severable.
SECTION 8. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 9. This Act shall take effect on July 1, 2024.
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INTRODUCED BY: |
_____________________________ |
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Report Title:
B&F; DOH; SCDD; Hawaii ABLE Savings Program; Expenditure Ceiling; Appropriations
Description:
Repeals language that gives the Director of Finance discretion to use moneys in the Hawaii ABLE Savings Program Trust Fund if the Director elects to accept deposits from contributors instead of sending deposits directly to the ABLE program manager. Authorizes the Director of Finance to expend moneys in the Hawaii ABLE Savings Program Trust Fund to provide incentive payments to Hawaii public school ABLE account owners. Declares that the general fund expenditure ceiling is exceeded. Makes an appropriation to the Department of Budget and Finance to fund the incentive payments. Makes an appropriation to the Department of Health for one full-time equivalent (1.0 FTE) permanent position within the State Council on Developmental Disabilities to provide statewide outreach, advocacy, and relationship management for the Hawaii ABLE savings program.
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
