Bill Text: HI HB1730 | 2010 | Regular Session | Amended
Bill Title: Cancer Research Center of Hawaii; General Fund; G.O. Bonds
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Engrossed - Dead) 2009-05-11 - Carried over to 2010 Regular Session. [HB1730 Detail]
Download: Hawaii-2010-HB1730-Amended.html
Report Title:
Cancer Research Center of Hawaii; General Fund; G.O. Bonds
Description:
Authorizes issuance of general obligation bonds to fund construction of the cancer research center of Hawaii. Authorizes transfer of funds from the Hawaii cancer research special fund into the state general fund. (HB1730 HD1)
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1730 |
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TWENTY-FIFTH LEGISLATURE, 2009 |
H.D. 1 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO STATE FINANCES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The legislature finds that the state is undergoing a significant and possibly protracted economic downturn in tandem with the national and global economic and financial crises. Numerous jobs have been lost, a number of large and small companies have declared bankruptcy or left the state, and many families have suffered foreclosure on their over-mortgaged houses. In the past year, the council on revenues has consistently reduced its forecasts of Hawaii's tax revenues. Across-the-board spending restrictions have already been put in place in state government and a general hiring freeze has already been implemented except in areas that impact public health and safety.
In the face of these extraordinary conditions, the State cannot proceed with business as usual. All resources must be examined to address critical statewide health, safety, and educational needs.
Accordingly, the purpose of this Act is to generate additional general funds to ensure the delivery of critical services statewide by making two transfers of moneys from the Hawaii cancer research special fund into the state general fund but, at the same time, authorizing the issuance of general obligation bonds to fund the construction of the cancer research center of Hawaii.
SECTION 2. The director of finance shall transfer from the Hawaii cancer research special fund, created under section 304A‑2168, Hawaii Revised Statutes, into the state general fund the following:
(1) On July 1, 2009, the amount of $ ; and
(2) On July 1, 2010, the amount of $ .
SECTION 3. The director of finance is authorized to issue general obligation bonds in the sum of $ or so much thereof as may be necessary, and the same sum, or so much thereof as may be necessary, is appropriated for fiscal year 2009-2010, and fiscal year 2010-2011, for construction of the cancer research center of Hawaii.
SECTION 4. The appropriations made for the capital improvement project authorized in this Act shall not lapse at the end of the fiscal biennium for which the appropriation is made; provided that all appropriations which are unencumbered as of June 30, 2012, shall lapse as of that date.
SECTION 5. The sums appropriated shall be expended by the University of Hawaii for the purposes of this Act.
SECTION 6. This Act shall take effect on July 1, 2020.
