HI SB101

Appropriates unspecified amounts from general revenues for fiscal year 2017-2018 to deposit into the emergency and budget reserve fund, to be managed by the department of budget and finance.

Appropriates unspecified amounts to pre-pay the State's unfunded accrued pension liability for state employees, with funds transmitted to the employees' retirement system and deposited into the pension accumulation fund.

Appropriates unspecified amounts to pre-pay the State's annual required contribution for other post-employment benefit liability under the Hawaii employer-union health benefits trust fund, with funds credited against unfunded accrued liability for state retirees.

Implements options authorized by constitutional amendment SB 2554 (2016) to comply with Article VII, Section 6 of the Hawaii Constitution regarding disposition of excess general fund revenues when the state general fund balance exceeds five percent of revenues for two successive fiscal years.

Takes effect July 1, 2017.