Bill Text: HI HB1186 | 2016 | Regular Session | Introduced
Bill Title: Public Finance; General Obligation Bonds
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Enrolled - Dead) 2016-04-15 - Received notice of discharge of conferees (Hse. Com. No. 610). [HB1186 Detail]
Download: Hawaii-2016-HB1186-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1186 |
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TWENTY-EIGHTH LEGISLATURE, 2015 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to general obligation bonds.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 39-6, Hawaii Revised Statutes, is amended to read as follows:
"§39-6 Premiums [to general
fund]. (a) The premiums received from the sale of any bonds
issued pursuant to this part shall be [a realization of the general fund of
the State.] used to fund in equal part:
(1) Eligible capital expenditures defined and expressed in accordance with section 39-2;
(2) The other post-employment benefits trust fund under section 87A-42; and
(3) The pension accumulation fund under section 88-114, as it applies to accrued liability contributions under section 88-123.
(b) The amounts distributed under subsection (a) shall not supplant any appropriations authorized by law."
SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 3. This Act shall take effect upon its approval.
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INTRODUCED BY: |
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Report Title:
Public Finance; General Obligation Bonds
Description:
Allocates premiums from general obligation bonds to fund eligible capital expenditures, the other post-employment benefits trust fund, and accrued liability contributions to the pension accumulation fund instead of the general fund.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
