HI SB41

Allows Hawaii Health Systems Corporation (HHSC) to defer reimbursement payments to the State for employer contributions to the Employees' Retirement System for five years from July 1, 2009 through June 30, 2014.

Requires HHSC to reimburse the Director of Finance for the total amount of contributions deferred during the five-year period, with the specific repayment deadline to be determined.

Adds HHSC to the list of state entities required to reimburse the State for employees' retirement system contributions under Hawaii Revised Statutes Section 88-125.

Addresses HHSC's projected deficits of $62 million in fiscal year 2008-2009 and over $35 million in fiscal year 2009-2010 to support statewide community hospital operations.

Takes effect upon approval.