HI SB2846

Appropriates $100,000,000 from general revenues to the Emergency and Budget Reserve Fund for fiscal year 2016-2017.

Projected to increase the Emergency and Budget Reserve Fund balance to $215,900,000, combined with the Hawaii Hurricane Relief Fund totaling over $398,300,000 in fiscal reserves (5.53% of general fund revenues).

Continues the State's accelerated capitalization of fiscal reserves following the Great Recession, building on previous measures including Act 124 (2011) and Act 267 (2013).

Funds to be expended by the Department of Budget and Finance to strengthen the State's fiscal stability during future economic downturns.

Takes effect upon approval.