HI HR139

Creates a task force to review, evaluate, and develop an implementation plan for establishing a state-owned Bank of the State of Hawaii modeled on the Bank of North Dakota.

Task force composition includes one gubernatorial appointee with banking experience, two House members (one majority, one minority party), directors from Budget and Finance, Labor, and the Attorney General, the Financial Institutions Commissioner (serving as chair), and representatives from county associations, banking institutions, and credit unions.

Task force directed to examine the Bank of North Dakota's structure and programs, feasibility of creating a similar Hawaii bank, capital requirements, operating costs, revenue projections, and long-term economic and job creation impacts.

Requires an interim report to the legislature no later than 20 days before the 2012 regular session covering the North Dakota model and feasibility analysis, and a final report by 20 days before the 2013 regular session with estimated startup costs and necessary legislation.

Members serve without compensation; Legislative Reference Bureau shall provide research and organizational support to the task force.