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HI HB342
Bill
Status
1/22/2019
Primary Sponsor
Angus McKelvey
Click for details
AI Summary
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Prohibits the Hawaii Strategic Development Corporation from investing in or acquiring new assets or securities in fossil fuel companies (identified by global industry classification system codes for coal, integrated oil and gas, or oil and gas exploration and production) and firearm companies.
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Requires 10% of moneys earned on investments, received pursuant to venture agreements, received as royalties, or received as premiums or fees to be deposited into a subaccount of the corporation's revolving fund and prohibits the corporation from expending those funds.
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Defines "firearm," "firearm company," and "fossil fuel company" in Hawaii Revised Statutes Section 211F-1.
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Requires the board of directors to post annually on the corporation's website beginning December 31, 2019, a list of all fossil fuel and firearm companies in which it holds investments.
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Amendments to Sections 2, 3, and 4 take effect January 1, 2025; main Act takes effect July 1, 2112.
Legislative Description
Relating To The Hawaii Strategic Development Corporation.
Firearms
Last Action
Report adopted; referred to the committee(s) on FIN with Representative(s) Say voting aye with reservations; none voting no (0) and Representative(s) Aquino, DeCoite, Nakamura, Quinlan, Thielen excused (5).
2/15/2019