Bill Text: HI HB2887 | 2010 | Regular Session | Introduced
Bill Title: Hawaii Tobacco Settlement Special Fund; Redistribution of Moneys
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Engrossed - Dead) 2010-03-16 - (S) The committee(s) on HTH recommend(s) that the measure be HELD. The votes in HTH were as follows: 5 Aye(s): Senator(s) Ige, Green, Baker, Espero; Aye(s) with reservations: Senator(s) Nishihara ; 0 No(es): none; and 1 Excused: Senator(s) Hemmings. [HB2887 Detail]
Download: Hawaii-2010-HB2887-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
2887 |
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TWENTY-FIFTH LEGISLATURE, 2010 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO TOBACCO SETTLEMENT moneys.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The legislature finds that the current state budget crisis requires innovative ways to increase the state general fund. Thus, the legislature finds that, for the short-term, an increased share from the Hawaii tobacco settlement special fund should be temporarily transferred to the state general fund.
The legislature notes that a major portion of the moneys to be transferred to the state general fund under this Act is comprised of the share that would have been provided to the Hawaii tobacco prevention and control trust fund. According to the latest available data, the Hawaii tobacco prevention and control trust fund has a sizeable balance. Thus, the legislature finds that the trust fund has sufficient moneys for its activities, at least for the short-term.
The purpose of this Act is to temporarily:
(1) Suspend the distribution of moneys from the Hawaii tobacco settlement special fund to the Hawaii tobacco prevention and control trust fund;
(2) Require the interest and earnings of the Hawaii tobacco settlement special fund to be deposited into the state general fund;
(3) Reduce the distribution from the Hawaii tobacco settlement special fund to the tobacco enforcement special fund; and
(4) Encourage the nonprofit entity responsible for the Hawaii tobacco prevention and control trust fund to increase its annual expenditures from the trust fund to assist in economic revitalization.
This Act takes effect on July 1, 2010, and is repealed on June 30, 2015.
SECTION 2. Section 328L-2, Hawaii Revised Statutes, is amended to read as follows:
"§328L-2 Hawaii tobacco settlement
special fund. (a) There is established in the state treasury the Hawaii
tobacco settlement special fund into which shall be deposited[:
(1) All] all tobacco settlement
moneys; [and
(2) All interest and earnings accruing from
the investment of moneys in the fund;]
provided that of all tobacco settlement moneys
received by the State each fiscal year, the sum representing the first [$350,000]
$250,000 of those moneys shall first be deposited in the state treasury
in each fiscal year to the credit of the tobacco enforcement special fund.
All interest and earnings accruing from the investment of moneys in the Hawaii tobacco settlement special fund shall be deposited into the general fund.
The Hawaii tobacco settlement special fund shall be administered by the department.
(b) The fund shall be used for the purpose of receiving, allocating, and appropriating the tobacco settlement moneys as follows:
(1) Fifteen per cent shall be appropriated into the emergency and budget reserve fund under section 328L-3;
(2) Twenty-five per cent shall be appropriated to the department for purposes of section 328L-4;
[(3) Six and one-half per cent shall
be appropriated into the Hawaii tobacco prevention and control trust fund under
section 328L-5; and
(4)] (3) Twenty-eight per cent shall be
appropriated into the university revenue-undertakings fund created in section
304A-2167.5 to be applied to the payment of the principal of and interest on,
and to generate required coverage, if any, for, revenue bonds issued by the
board of regents of the University of Hawaii to finance the cost of
construction of a university health and wellness center, including a new
medical school facility, to be situated on the island of Oahu, for the succeeding
fiscal year; and the payment of annual operating expenses incurred by the new
medical school facility; provided that any moneys in excess of the amounts
required under this paragraph shall be transferred in the succeeding fiscal
year to the emergency and budget reserve fund under section 328L-3; and
[(5)] (4) [Twenty-five and one-half]
Thirty-two per cent shall be deposited to the credit of the state
general fund."
SECTION 3. The legislature finds that the revitalization of the economy of the State should be a primary concern of all community stakeholders, including nonprofit organizations. The legislature believes that economic revitalization requires the circulation of dollars within the local economy.
According to the latest available data, the Hawaii tobacco prevention and control trust fund has a sizeable balance, but relatively low annual expenditures. The legislature finds that the trust fund is a repository from which expenditures may be increased to assist in revitalizing the economy as well as serve an important public health purpose.
Thus, the legislature encourages the nonprofit entity responsible for the trust fund to increase, during fiscal years 2010-2011, 2011-2012, and 2012-2013, its annual expenditures from the trust fund for programs and projects authorized under section 328L-5, Hawaii Revised Statutes, in order to infuse dollars into the economy of the State.
SECTION 4. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 5. This Act shall take effect on July 1, 2010, and shall be repealed on June 30, 2015; provided that section 328L‑2, Hawaii Revised Statutes, shall be reenacted in the form in which it read on the day before the effective date of Act 264, Session Laws of Hawaii 2007, as specified by section 6 of Act 119, Session Laws of Hawaii 2009.
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INTRODUCED BY: |
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Report Title:
Hawaii Tobacco Settlement Special Fund; Redistribution of Moneys
Description:
Transfers temporarily to the general fund the portion of moneys from the Hawaii tobacco settlement special fund designated for the Hawaii tobacco prevention and control trust fund. Requires interest and earnings of the Hawaii tobacco settlement special fund to be deposited into the general fund. Reduces the portion of moneys from the Hawaii tobacco settlement special fund to be transferred to the tobacco enforcement special fund. Encourages the nonprofit entity responsible for the Hawaii tobacco prevention and control trust fund to increase its annual expenditures to assist in revitalizing the economy. Takes effect on 07/01/2010, and sunsets on 06/30/2015.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
