Report Title:

State Disaster Revolving Loan Fund; Emergency Appropriation

Description:

Makes an emergency appropriation of $1,000,000 from the State Disaster Revolving Loan Fund to respond to assistance requests resulting from heavy rain and flooding on 12/7/03 to 12/8/03. (HB2397 HD1)

HOUSE OF REPRESENTATIVES

H.B. NO.

2397

TWENTY-SECOND LEGISLATURE, 2004

H.D. 1

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

MAKING AN EMERGENCY APPROPRIATION FOR THE HAWAII STATE DISASTER REVOLVING LOAN FUND.

 

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

SECTION 1. This Act is recommended by the governor for immediate passage in accordance with section 9 of article VII of the constitution of the State of Hawaii.

SECTION 2. This emergency appropriation is necessary to allow the expenditure of funds from the disaster revolving loan fund in response to requests from businesses and individuals suffering damages from the heavy rains and flooding on

December 7 through December 8, 2003. The governor issued a disaster proclamation on December 23, 2003. Once a proclamation is issued, the department of business, economic development, and tourism may transfer funds from the capital loan revolving fund into the state disaster revolving loan fund.

The purpose of this Act is to appropriate $1,000,000 for fiscal year 2003-2004 for expenditure from the state disaster revolving loan fund established in section 209-34, Hawaii Revised Statutes.

SECTION 3. There is appropriated out of the state disaster revolving loan fund the sum of $1,000,000 or so much thereof as may be necessary for fiscal year 2003-2004. Loans are authorized from this revolving fund pursuant to the governor's disaster proclamation of December 23, 2003.

The sum appropriated shall be expended by the department of business, economic development, and tourism for the purposes of this Act.

SECTION 4. This Act shall take effect on July 1, 2010.