Bill Text: HI HB771 | 2016 | Regular Session | Amended
Bill Title: Hawaii Capital Loan Revolving Fund; Appropriation ($)
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2015-12-17 - Carried over to 2016 Regular Session. [HB771 Detail]
Download: Hawaii-2016-HB771-Amended.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
771 |
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TWENTY-EIGHTH LEGISLATURE, 2015 |
H.D. 1 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO ECONOMIC DEVELOPMENT.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Chapter 210, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:
"§210- Hawaii capital loan revolving fund. (a) There is established the Hawaii capital loan revolving fund into which shall be deposited all moneys received as repayment of loans and interest payments as provided in this chapter. The department may utilize a portion of the moneys contained in the Hawaii capital loan revolving fund for programs associated with administering the fund and its mandated purpose. The department or the director may transfer moneys from the state disaster revolving loan fund established by section 209-34 to the Hawaii capital loan revolving fund for disbursement pursuant to this chapter.
(b) The department shall report any transfer of funds made under this section to the legislature within ten days of the transfer."
SECTION 2. 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 2015-2016 and the same sum or so much thereof as may be necessary for fiscal year 2016-2017 for deposit into the Hawaii capital loan revolving 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 2015-2016 and the same sum or so much thereof as may be necessary for fiscal year 2016-2017 for one full-time equivalent (1.0 FTE) permanent program manager position within the department of business, economic development, and tourism to administer the Hawaii capital loan revolving fund.
The sums appropriated shall be expended by the department of business, economic development, and tourism for the purposes of this Act.
SECTION 4. New statutory material is underscored.
SECTION 5. This Act shall take effect on July 1, 2015.
Report Title:
Hawaii Capital Loan Revolving Fund; Appropriation
Description:
Reenacts the Hawaii Capital Loan Revolving Fund. Appropriates funds to the Hawaii Capital Loan Revolving Fund and funds one permanent full-time program manager position (1.0 FTE) within the Department of Business, Economic Development, and Tourism. (HB771 HD1)
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
