Bill Text: HI SB2908 | 2020 | Regular Session | Amended
Bill Title: Relating To The Payment Of Debt Service On The Turtle Bay Reimbursable General Obligation Bonds.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Engrossed - Dead) 2020-03-09 - Referred to WLH, FIN, referral sheet 36 [SB2908 Detail]
Download: Hawaii-2020-SB2908-Amended.html
|
THE SENATE |
S.B. NO. |
2908 |
|
THIRTIETH LEGISLATURE, 2020 |
S.D. 2 |
|
|
STATE OF HAWAII |
|
|
|
|
|
|
|
|
||
|
|
||
A BILL FOR AN ACT
RELATING TO THE PAYMENT OF DEBT SERVICE ON THE TURTLE BAY REIMBURSABLE GENERAL OBLIGATION BONDS.
BE IT
ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 173A-13,
Hawaii Revised Statutes, is amended to read as follows:
"[[]§173A-13[]] Payment of debt service on the Turtle Bay
reimbursable general obligation bonds. [Notwithstanding any laws to the
contrary:
(1) Beginning July 1, 2015, a nonprofit
land conservation organization shall file an application annually with the] The board [requesting] shall
expend $1,500,000 per fiscal year from the land conservation fund [to
be used] for the reimbursement of debt service on the Turtle Bay
reimbursable general obligation bonds until the bonds are fully amortized[;].
[(2) The board shall not require the nonprofit land conservation
organization that is the recipient of a grant for the payment of debt service
on the Turtle Bay reimbursable general obligation bonds to provide any
additional matching funds; and
(3)] Moneys [awarded] expended
for the payment of debt service on the Turtle Bay reimbursable general
obligation bonds shall be deposited into the Turtle Bay conservation easement
special fund."
SECTION 2. This Act does not affect rights and duties
that matured, penalties that were incurred, and proceedings that were begun
before its effective date.
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 Statutory material to be repealed is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:
Turtle Bay Conservation Easement; Debt Service
Description:
Requires the Board of Land and Natural Resources to expend $1,500,000 per fiscal year from the Land Conservation Fund to be used for the reimbursement of debt service on the Turtle Bay reimbursable general obligation bonds. Effective 7/1/2050. (SD2)
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
