Loading chat...
HI HB2522
Bill
Status
1/25/2012
Primary Sponsor
Calvin Say
Click for details
AI Summary
-
Appropriates $20,000,000 for fiscal year 2011-2012 and $43,700,000 for fiscal year 2012-2013 from general revenues to recapitalize the Emergency and Budget Reserve Fund.
-
Appropriates $55,000,000 for fiscal year 2011-2012 and $56,000,000 for fiscal year 2012-2013 from general revenues to recapitalize the Hawaii Hurricane Relief Fund.
-
Addresses depletion of state reserve funds caused by economic downturn, with balances of approximately $5,500,000 and $8,800,000 respectively as of June 30, 2011.
-
Responds to concerns raised by bond rating agencies regarding the near depletion of state reserves during fiscal year 2010-2011.
-
Takes effect upon approval.
Legislative Description
Appropriations; Emergency and Budget Reserve Fund; Hawaii Hurricane Relief Fund.
Last Action
(H) The committee(s) on FIN recommend(s) that the measure be deferred.
2/14/2012