Report Title:

Tobacco Moneys

Description:

Increases the portion of tobacco settlement moneys going into the Hawaii tobacco prevention and control trust fund from 12.5% to 25% and decreases the portion going to the emergency and budget reserve fund from 24.5% to 12%.

HOUSE OF REPRESENTATIVES

H.B. NO.

6

TWENTY-SECOND LEGISLATURE, 2003

 

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

RELATING TO THE TOBACCO SETTLEMENT MONEYS.

 

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

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

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

(4) 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 to the emergency and budget reserve fund under section 328L-3, and the Hawaii tobacco prevention and control trust fund under section 328L-5, in the succeeding fiscal year, in the same proportion as to the amount of moneys appropriated to those funds in accordance with this subsection."

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 Statutory material to be repealed is bracketed and stricken.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, 2003.

INTRODUCED BY:

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