COMMITTEE ON FINANCE – AGENDA #1
COMMITTEE ON FINANCE – AGENDA #2
COMMITTEE ON FINANCE – AGENDA #3
PROPOSED HD1: Repeals certain special funds and transfers balances to the general fund. Converts certain revolving funds of the University of Hawaii into special funds. Requires the Director of Finance to transfer funds from the Compliance Resolution Fund to fund all interest payments on General Obligation bonds issued on behalf of the Department of Commerce and Consumer Affairs and to annually collect funds from the Compliance Resolution Fund to pay the interest payments on the General Obligation bonds beginning on June 1, 2011. From June 1, 2011 until December 31, 2015, repeals requirement that $2,000,000 of tax revenues from banks and other financial corporations be deposited into the compliance resolution fund. Temporarily suspends the distribution of a portion of the conveyance tax to the land conservation fund. Temporarily redirects an additional portion of Tobacco Settlement Funds into the general fund. Effective upon approval.