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HI HB2106
Bill
Status
1/26/2022
Primary Sponsor
Scott Saiki
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AI Summary
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Appropriates $1,000,000,000 from general revenues of the State of Hawaii for fiscal year 2021-2022 to capitalize the Emergency and Budget Reserve Fund.
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Deposit will increase the Emergency and Budget Reserve Fund balance to approximately 14.7 percent of prior year general fund revenues.
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Aims to build fiscal reserves to prepare the State to weather future economic shocks independently, citing COVID-19 pandemic impacts and potential future disruptions from climate change and geopolitical tensions.
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Funds to be deposited into the Emergency and Budget Reserve Fund established pursuant to Hawaii Revised Statutes section 328L-3, administered by the Department of Budget and Finance.
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Takes effect upon approval.
Legislative Description
Making An Appropriation To The Emergency And Budget Reserve Fund.
Appropriation ($)
Last Action
The committee(s) on FIN recommend(s) that the measure be deferred.
2/23/2022