Bill Text: HI SB2965 | 2012 | Regular Session | Introduced
Bill Title: Hawaii Capital Loan Revolving Fund; Appropriation
Spectrum: Partisan Bill (Democrat 9-0)
Status: (Introduced - Dead) 2012-01-27 - (S) Referred to EDT, WAM. [SB2965 Detail]
Download: Hawaii-2012-SB2965-Introduced.html
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THE SENATE |
S.B. NO. |
2965 |
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TWENTY-SIXTH LEGISLATURE, 2012 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO the HAWAII CAPITAL LOAN REVOLVING FUND.
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 may transfer moneys from the Hawaii capital loan revolving fund established by this section to the Hawaii technology loan revolving fund established by section 206M-15.6 and the state disaster revolving loan fund established by section 209-34, or the Hawaii strategic development corporation revolving fund established by section 211F-5; provided that moneys from these funds shall be disbursed by the department or the director pursuant to this chapter and chapters 206M, 209, and 211F, respectively. The department or the director may transfer moneys from the state disaster revolving loan fund and the Hawaii innovation development fund to the Hawaii capital loan revolving fund for disbursement pursuant to this chapter.
(b) The total amount of moneys transferred to the state disaster revolving loan fund or the Hawaii capital loan revolving fund shall not exceed $1,000,000 for each fund within the calendar year. Any transfers to or from the Hawaii technology loan revolving fund shall first be approved by the high technology development corporation's board of directors.
(c) Notwithstanding subsection (b), the total amount moneys transferred between the state disaster revolving loan fund and the Hawaii capital loan revolving fund, or the Hawaii innovation development fund shall not exceed $1,000,000 within the calendar year if the governor proclaims a state disaster pursuant to section 209-2.
(d) 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 2012-2013 for deposit into the Hawaii capital loan revolving fund.
The sum appropriated shall be expended by the department of business, economic development, and tourism for the purposes of this Act.
SECTION 3. New statutory material is underscored.
SECTION 4. This Act shall take effect on July 1, 2012.
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INTRODUCED BY: |
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Report Title:
Hawaii Capital Loan Revolving Fund; Appropriation
Description:
Establishes the Hawaii capital loan revolving fund and makes an unspecified appropriation into the fund.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
