Bills of interest for TUESDAY, April 5 2011

COMMITTEE ON FINANCE – AGENDA #1

2:00 P.M.

ROOM 308

HEARING NOTICE

SB367, SD3, HD1 RELATING TO ENERGY

Establishes a regulatory structure for the installation and implementation of an interisland high voltage electric transmission cable system and for the construction of on-island transmission infrastructure. Allows for the utility company to collect surcharges from its ratepayers to recover the costs of the cable installation on behalf of the cable company. Exempts the surcharges from being counted as gross income, adjusted gross income, or taxable income for tax purposes. Provides for the eventual acquisition of the cable system by the utility company from the cable company. Allows the utility company to recover the costs of acquiring the cable system and developing the on island infrastructure through an automatic rate adjustment clause and then through its rates. Allows the utility to recover the reasonable costs, as determined by the public utilities commission, of predevelopment and development in the event that the system is not completed. Effective July 1, 2011

COMMITTEE ON FINANCE – AGENDA #2

3:30 P.M.

ROOM 308

HEARING NOTICE

SB1, SD2, HD2 RELATING TO STATE RECOGNITION OF THE NATIVE HAWAIIAN PEOPLE, THEIR LANDS, ENTITLEMENTS HEALTH, EDUCATION, WELFARE, HERITAGE AND CULTURE

Establishes a commission to prepare and maintain a roll of qualified Native Hawaiians; requires the commission to publish the roll for the purpose of organizing a convention of qualified Native Hawaiians; requires the governor to dissolve the commission after the commission publishes notice of the updated roll; appropriates unspecified funds

COMMITTEE ON FINANCE – AGENDA #3

4:30 P.M.

ROOM 308

HEARING NOTICE

SB120, SD1 RELATING TO STATE FUNDS

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.