Hawaii 2025 Regular Session

Hawaii Senate Bill SB486 Compare Versions

Only one version of the bill is available at this time.

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1	1	THE SENATE S.B. NO. 486 THIRTY-THIRD LEGISLATURE, 2025 STATE OF HAWAII A BILL FOR AN ACT relating to the pomaikai hawaii fund. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
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3	3	THE SENATE S.B. NO. 486
4	4	THIRTY-THIRD LEGISLATURE, 2025
5	5	STATE OF HAWAII
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7	7	THE SENATE
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9	9	S.B. NO.
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11	11	486
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13	13	THIRTY-THIRD LEGISLATURE, 2025
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17	17	STATE OF HAWAII
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31	31	A BILL FOR AN ACT
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37	37	relating to the pomaikai hawaii fund.
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43	43	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
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47	47	SECTION 1. Chapter 171, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows: "§171- Pomaikai Hawaii fund. There is established outside the state treasury, a trust fund to be known as the "Pomaikai Hawaii Fund". The fund shall consist of per cent of all visitor green fees collected by the department pursuant to Act , Session Laws of Hawaii 2025. It is hereby declared that any and all sums contributed or paid from any source to the fund created by this section, and all assets of the fund including any and all interest and earnings, are and shall be held in trust for the exclusive use and benefit of the beneficiaries and shall not be subject to appropriation for any other purpose whatsoever. The fund shall be placed under the department of budget and finance for administrative purposes. For the purposes of this section, "beneficiary" means a bona fide resident of the State." SECTION 2. The director of finance shall adopt rules in accordance with chapter 91, Hawaii Revised Statutes, to determine: (1) The structure of the board that shall administer the Pomaikai Hawaii fund; (2) Eligibility criteria to receive compensation from the fund, including the frequency and amount; and (3) Investment criteria for the Pomaikai Hawaii fund; provided that the criteria shall be modeled after the Hawaii employees' retirement system pursuant to section 88-119, Hawaii Revised Statutes, and the Hawaii employer-union health benefits trust fund pursuant to part IV of chapter 87A, Hawaii Revised Statutes. SECTION 3. New statutory material is underscored. SECTION 4. This Act shall take effect upon its approval. INTRODUCED BY: _____________________________
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49	49	SECTION 1. Chapter 171, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:
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51	51	"§171- Pomaikai Hawaii fund. There is established outside the state treasury, a trust fund to be known as the "Pomaikai Hawaii Fund". The fund shall consist of per cent of all visitor green fees collected by the department pursuant to Act , Session Laws of Hawaii 2025. It is hereby declared that any and all sums contributed or paid from any source to the fund created by this section, and all assets of the fund including any and all interest and earnings, are and shall be held in trust for the exclusive use and benefit of the beneficiaries and shall not be subject to appropriation for any other purpose whatsoever. The fund shall be placed under the department of budget and finance for administrative purposes.
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53	53	For the purposes of this section, "beneficiary" means a bona fide resident of the State."
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55	55	SECTION 2. The director of finance shall adopt rules in accordance with chapter 91, Hawaii Revised Statutes, to determine:
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57	57	(1) The structure of the board that shall administer the Pomaikai Hawaii fund;
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59	59	(2) Eligibility criteria to receive compensation from the fund, including the frequency and amount; and
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61	61	(3) Investment criteria for the Pomaikai Hawaii fund; provided that the criteria shall be modeled after the Hawaii employees' retirement system pursuant to section 88-119, Hawaii Revised Statutes, and the Hawaii employer-union health benefits trust fund pursuant to part IV of chapter 87A, Hawaii Revised Statutes.
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63	63	SECTION 3. New statutory material is underscored.
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65	65	SECTION 4. This Act shall take effect upon its approval.
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69	69	INTRODUCED BY: _____________________________
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71	71	INTRODUCED BY:
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87	87	Report Title: Department of Budget and Finance; Pomaikai Hawaii Fund; Visitor Green Fee; Trust Fund; Established; Rules Description: Establishes the Pomaikai Hawaii Fund within the Department of Budget and Finance for administrative purposes. Requires the Department of Budget and Finance to adopt administrative rules to administer the Pomaikai Hawaii Fund. The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
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95	95	Report Title:
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97	97	Department of Budget and Finance; Pomaikai Hawaii Fund; Visitor Green Fee; Trust Fund; Established; Rules
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101	101	Description:
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103	103	Establishes the Pomaikai Hawaii Fund within the Department of Budget and Finance for administrative purposes. Requires the Department of Budget and Finance to adopt administrative rules to administer the Pomaikai Hawaii Fund.
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111	111	The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.