Loading chat...
HI HB562
Bill
Status
3/8/2011
Primary Sponsor
Kyle Yamashita
Click for details
AI Summary
H.B. 562 Summary
-
Authorizes the director of finance to invest non-general fund moneys in state-issued general obligation bonds, interest-bearing notes, or other state obligations when such funds exceed immediate state requirements.
-
Requires that invested non-general fund moneys be returned to their respective sources within a reasonable time period.
-
Mandates submission of a report to the legislature within 30 days of each investment disclosing all sources of non-general fund moneys and amounts invested.
-
Addresses state capital improvement project funding as an alternative to conventional methods of selling general obligation bonds during economic difficulties.
-
Takes effect on July 1, 2030.
Legislative Description
State Bonds; Investments
Last Action
(S) The committee(s) on WAM recommend(s) that the measure be HELD. The votes in WAM were as follows: 11 Aye(s): Senator(s) Ige, Kidani, Chun Oakland, English, Espero, Kahele, Kim, Kouchi, Tokuda, Wakai, Slom; Aye(s) with reservations: none ; 0 No(es): none; and 3 Excused: Senator(s) Dela Cruz, Fukunaga, Ryan.
3/23/2011