REPORT TITLE:
Boating Special Fund


DESCRIPTION:  Clarifies that the five per cent assessment from
the boating special fund deposited to the general fund for
central services expenses shall be limited to five per cent of
revenues not of debt service. (HB2570 HD1)


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                        2570
HOUSE OF REPRESENTATIVES                H.B. NO.           H.D. 1
TWENTIETH LEGISLATURE, 2000                                
STATE OF HAWAII                                            
                                                             
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                   A  BILL  FOR  AN  ACT

RELATING TO THE BOATING SPECIAL FUND.



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

 1      SECTION 1.  Chapter 36, Hawaii Revised Statutes, is amended
 
 2 by adding a new section to be appropriately designated and to
 
 3 read as follows:
 
 4      "36-     Transfer from boating special fund.
 
 5 Notwithstanding any law to the contrary, including section 36-27,
 
 6 there shall be deducted from time to time by the director of
 
 7 finance for the purpose of defraying the prorated estimate of
 
 8 central service expenses of government in relation to the boating
 
 9 special fund, five per cent of all receipts and deposits in the
 
10 boating special fund after subtracting therefrom any amounts
 
11 pledged, charged, or encumbered for the payment of bonds or
 
12 interest thereon during the time period for which the deduction
 
13 is to be made.  The deductions shall be transferred to the
 
14 general fund of the State and shall become general realizations
 
15 of the State.
 
16      For the purpose of this section, the term "any amounts
 
17 pledged, charged, or encumbered for the payment of bonds or
 
18 interest thereon" shall include:
 
19      (1)  Amounts that are so pledged, charged, or encumbered;
 
20           and
 

 
Page 2                                                     2570
                                     H.B. NO.           H.D. 1
                                                        
                                                        


 1      (2)  Amounts required by law to be paid from the boating
 
 2           special fund into the general fund of the State to
 
 3           reimburse the general fund for bond requirements for
 
 4           general obligation bonds issued for boating facility
 
 5           purposes.
 
 6      The chairperson of the board of land and natural resources
 
 7 shall cooperate with the director of finance in effecting the
 
 8 transfer."
 
 9      SECTION 2.  New statutory material is underscored.
 
10      SECTION 3.  This Act shall take effect on July 1, 2000.