Report Title:

Hawaii Tobacco Settlement Special Fund

Description:

Adjusts the percentages of funds allocates from the Tobacco Settlement Special Fund by decreasing the amount appropriated to the Emergency and Budget Reserve Fund, and incrementally decreasing the allocation to the University of Hawaii while increasing the allocation to the Tobacco Prevention and Control Trust Fund. (HB1867 HD1)

HOUSE OF REPRESENTATIVES

H.B. NO.

1867

TWENTY-SECOND LEGISLATURE, 2004

H.D. 1

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

RELATING TO HEALTH.

 

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

SECTION 1. Section 328L-2, Hawaii Revised Statutes, is amended by amending subsection (b) to read as follows:

"(b) The fund shall be used for the purpose of receiving, allocating, and appropriating the tobacco settlement moneys as follows:

[(1) Twenty-four and one-half]

(1) Beginning July 1, 2004:

(A) Twelve per cent shall be appropriated into the emergency and budget reserve fund under section 328L-3;

[(2)] (B) Thirty-five per cent shall be appropriated to the department for purposes of section 328L-4;

[(3) Twelve and one-half] (C) Twenty-five per cent shall be appropriated into the Hawaii tobacco prevention and control trust fund under section 328L-5; and

[(4)] (D) Twenty-eight per cent shall be appropriated into the university revenue-undertakings fund created in section 306-10, to be applied solely to the payment of the principal of and interest on, and to generate required coverage, if any, for, revenue bonds issued by the board of regents of the University of Hawaii to finance the cost of construction of a university health and wellness center, including a new medical school facility, to be situated on the island of Oahu, for the succeeding fiscal year; provided that any moneys in excess of the amount required to pay principal of and interest on, and to generate required coverage, if any, for such revenue bonds in any fiscal year, shall be transferred as follows:

[(A)] (i) To the emergency and budget reserve fund under section 328L-3, eighty per cent of the excess; and

[(B)](ii) To the Hawaii tobacco prevention and control trust fund under section 328L-5, twenty per cent of the excess;

in the succeeding fiscal year[.];

(2) Beginning July 1, 2006:

(A) Twenty per cent shall be appropriated into the emergency and budget reserve fund under section 328L-3;

(B) Thirty-five per cent shall be appropriated to the department for purposes of section 328L-4;

(C) Twenty-five per cent shall be appropriated into the Hawaii tobacco prevention and control trust fund under section 328L-5; and

(D) Twenty per cent shall be appropriated into the university revenue-undertakings fund created in section 306-10, to be applied solely to the payment of the principal of and interest on, and to generate required coverage, if any, for revenue bonds issued by the board of regents of the University of Hawaii to finance the cost of construction of a university health and wellness center, including a new medical school facility, to be situated on the island of Oahu, for the succeeding fiscal year; provided that any moneys in excess of the amount required to pay principal of and interest on, and to generate required coverage, if any, for such revenue bonds in any fiscal year, shall be transferred as follows:

(i) To the emergency and budget reserve fund under section 328L-3, eighty per cent of the excess; and

(ii) To the Hawaii tobacco prevention and control trust fund under section 328L-5, twenty per cent of the excess;

in the succeeding fiscal year;

(3) Beginning July 1, 2008:

(A) Twenty-five per cent shall be appropriated into the emergency and budget reserve fund under section 328L-3;

(B) Thirty-five per cent shall be appropriated to the department for purposes of section 328L-4;

(C) Twenty-five per cent shall be appropriated into the Hawaii tobacco prevention and control trust fund under section 328L-5; and

(D) Fifteen per cent shall be appropriated into the university revenue-undertakings fund created in section 306-10, to be applied solely to the payment of the principal of and interest on, and to generate required coverage, if any, for revenue bonds issued by the board of regents of the University of Hawaii to finance the cost of construction of a university health and wellness center, including a new medical school facility, to be situated on the island of Oahu, for the succeeding fiscal year; provided that any moneys in excess of the amount required to pay principal of and interest on, and to generate required coverage, if any, for such revenue bonds in any fiscal year, shall be transferred as follows:

(i) To the emergency and budget reserve fund under section 328L-3, eighty per cent of the excess; and

(ii) To the Hawaii tobacco prevention and control trust fund under section 328L-5, twenty per cent of the excess;

in the succeeding fiscal year; and

(4) Beginning July 1, 2010:

(A) Thirty per cent shall be appropriated into the emergency and budget reserve fund under section 328L-3;

(B) Thirty-five per cent shall be appropriated to the department for purposes of section 328L-4;

(C) Twenty-five per cent shall be appropriated into the Hawaii tobacco prevention and control trust fund under section 328L-5; and

(D) Ten per cent shall be appropriated into the university revenue-undertakings fund created in section 306-10, to be applied solely to the payment of the principal of and interest on, and to generate required coverage, if any, for revenue bonds issued by the board of regents of the University of Hawaii to finance the cost of construction of a university health and wellness center, including a new medical school facility, to be situated on the island of Oahu, for the succeeding fiscal year; provided that any moneys in excess of the amount required to pay principal of and interest on, and to generate required coverage, if any, for such revenue bonds in any fiscal year, shall be transferred as follows:

(i) To the emergency and budget reserve fund under section 328L-3, eighty per cent of the excess; and

(ii) To the Hawaii tobacco prevention and control trust fund under section 328L-5, twenty per cent of the excess;

in the succeeding fiscal year."

SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 3. This Act shall take effect on July 1, 2004.