HB1262 Summary

• Adds a new allowable use of Hawaii's Emergency and Budget Reserve Fund to provide economic payments to residents affected by disasters declared by the governor as a state of emergency.

• Eligible individuals must be Hawaii residents with annual gross income below a threshold amount to be set by the governor and who have lost homes, jobs, food, clothing, or transportation in a qualifying disaster.

• Economic payment amount equals the lesser of: (A) an amount set by the governor with a minimum of $20,000, or (B) the state minimum wage multiplied by 1,333 hours.

• Appropriations from the emergency and budget reserve fund require a declaration of findings and purposes plus a two-thirds majority vote in each house of the legislature.

• Bill takes effect upon approval.