REPORT TITLE: 
Financial Institutions



DESCRIPTION: 
Dedicates a portion of the franchise tax revenues to the
financial institution examiners' revolving fund. (SB1144 HD2)


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                        1144
THE SENATE                              S.B. NO.           S.D. 1
TWENTIETH LEGISLATURE, 1999                                H.D. 2
STATE OF HAWAII                                            
                                                             
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                   A  BILL  FOR  AN  ACT

RELATING TO FINANCIAL INSTITUTIONS.



BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 1      SECTION 1. Section 241-7, Hawaii Revised Statutes, is
 
 2 amended to read as follows:
 
 3      "241-7 Disposition of funds.  All taxes collected under
 
 4 this chapter shall be state realizations[.]; provided that    
 
 5 per cent of all revenue and amounts received and collected under
 
 6 this chapter shall be deposited with the director of finance to
 
 7 the credit of the financial institution examiners' revolving fund
 
 8 established under section 412:2-109."
 
 9      SECTION 2. Statutory material to be repealed is bracketed.
 
10 New statutory material is underscored.
 
11      SECTION 3. This Act, upon its approval, shall take effect
 
12 retroactive to January 1, 1999.