Bill Text: HI HB1263 | 2024 | Regular Session | Amended
Bill Title: Relating To The Hawaii Able Savings Program.
Spectrum: Partisan Bill (Democrat 32-1)
Status: (Engrossed) 2024-03-25 - Received notice of discharge of all conferees (Hse. Com. No. 457). [HB1263 Detail]
Download: Hawaii-2024-HB1263-Amended.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1263 |
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THIRTY-SECOND LEGISLATURE, 2023 |
H.D. 2 |
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STATE OF HAWAII |
S.D. 2 |
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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) Appropriate
funds to the department of budget and finance to fund incentive payments; and
(4) Appropriate funds to the department of health to fund 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.]
(b) 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. 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 2023-2024 and the same sum 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 4. 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 2023-2024 and the same sum or so
much thereof as may be necessary for fiscal year 2024-2025 to provide
incentive payments to Hawaii public school ABLE account owners.
The sums appropriated shall be expended by
the department of budget and finance for the purposes of this Act.
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 2023-2024 and the same sum or so much thereof as may be necessary for fiscal year 2024-2025 to fund 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 sums appropriated shall be expended by the department of health for the purposes of this Act.
SECTION 6. 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 7. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 8. This Act shall take effect on June 30, 2050.
Report Title:
Hawaii ABLE Savings Program; Director of Finance; State Council on Developmental Disabilities; Department of Health; 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. Appropriates moneys to fund incentive payments. Establishes and appropriates moneys to fund one full-time equivalent (1.0 FTE) permanent position to provide statewide outreach, advocacy, and relationship management for the Hawaii ABLE savings program. Effective 6/30/2050. (SD2)
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
