Bill Text: HI SB2268 | 2014 | Regular Session | Amended
Bill Title: Hawaiian Home Lands; General Excise Tax
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced - Dead) 2014-02-05 - Report adopted; Passed Second Reading, as amended (SD 1) and referred to WAM. [SB2268 Detail]
Download: Hawaii-2014-SB2268-Amended.html
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THE SENATE |
S.B. NO. |
2268 |
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TWENTY-SEVENTH LEGISLATURE, 2014 |
S.D. 1 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO THE DEPARTMENT OF HAWAIIAN HOME LANDS.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 213, Hawaiian Homes Commission Act, 1920, as amended, is amended by amending subsection (f) to read as follows:
"(f)
Hawaiian home administration account. The entire receipts derived from any
leasing or other disposition of the available lands pursuant to section [[]204(a)(2)[]
and]; transfers from the Hawaiian home receipts fund; and general
excise tax realizations pursuant to section 237-31, Hawaii Revised Statutes,
shall be deposited into this account[.]; provided that deposits
pursuant to section 237-31, Hawaii Revised Statutes, shall be expended for
operational expenses of the department. Any interest or other earnings
arising out of investments from this fund shall be credited to and deposited
into this fund. The moneys in this account shall be expended by the department
for salaries and other administration expenses of the department in conformity
with general law applicable to all departments of the State, and no sums shall
be expended for structures and other permanent improvements. This account shall
be subject to the following conditions and requirements:
(1) The department, when required by the governor but not later than November 15 preceding each regular session of the legislature, shall submit to the state director of finance its budget estimates of expenditures for the next fiscal period in the manner required by general law;
(2) The department's budget as approved by the governor shall be included in the governor's budget report and shall be transmitted to the legislature for its approval;
(3) Upon legislative approval of a budget, the amount appropriated shall be made available to the department. If no budget is approved by the legislature prior to its adjournment, sums accruing to this account shall not be expended for any other purpose but shall remain available for future use. Any amount in this account which is in excess of the amount approved by the legislature or made available for the fiscal period may be transferred to the Hawaiian home operating fund."
SECTION 2. Section 237-31, Hawaii Revised Statutes, is amended to read as follows:
"§237-31 Remittances. All remittances of taxes imposed by this chapter shall be made by money, bank draft, check, cashier's check, money order, or certificate of deposit to the office of the department of taxation to which the return was transmitted. The department shall issue its receipts therefor to the taxpayer and shall pay the moneys into the state treasury as a state realization, to be kept and accounted for as provided by law; provided that:
(1) A sum, not to exceed $5,000,000, from all general excise tax revenues realized by the State shall be deposited in the state treasury in each fiscal year to the credit of the compound interest bond reserve fund;
(2) A sum from all general excise tax revenues
realized by the State that is equal to one-half of the
total amount of funds appropriated or transferred out of the hurricane reserve
trust fund under sections 4 and 5 of Act 62, Session Laws of Hawaii 2011, shall be deposited into the hurricane reserve trust fund in fiscal
year 2013-2014 and in fiscal year 2014-2015; provided that the deposit required
in each fiscal year shall be made by October 1 of that fiscal year; [and]
[[](3)[]]Commencing
with fiscal year 2018-2019, a sum from all general excise tax revenues realized
by the State that represents the difference between the state public employer's
annual required contribution for the separate trust fund established under
section 87A-42 and the amount of the state public employer's contributions into
that trust fund shall be deposited to the credit of the State's annual required
contribution into that trust fund in each fiscal year, as provided in section
87A-42[.]; and
(4) Commencing with fiscal year 2014-2015, a sum not to exceed $ from all general excise tax revenues realized by the State shall be deposited into the Hawaiian home administration account pursuant to section 213 of the Hawaiian Homes Commission Act, 1920, as amended."
SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 4. This Act shall take effect on July 1, 2050.
Report Title:
Hawaiian Home Lands; General Excise Tax
Description:
Requires a portion of general excise tax revenues to be deposited into the Hawaiian home administration account for operational expenses. Takes effect 7/1/2050. (SD1)
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
