Report Title:

Loss Mitigation Grant Program; Appropriation

Description:

Appropriates $3.5 million in FY03-04,and $2.5 million in FY04-05, from the Hawaii hurricane relief fund to fund the loss mitigation grant established under this Act. Allows funds to be used for grants awarded retroactive to January 1, 2003. (SD2)

HOUSE OF REPRESENTATIVES

H.B. NO.

640

TWENTY-SECOND LEGISLATURE, 2003

H.D. 1

STATE OF HAWAII

S.D. 2


 

A BILL FOR AN ACT

 

Making an appropriation for the loss mitigation grant program.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. There is appropriated out of the Hawaii hurricane relief fund the sum of $3,500,000, or so much thereof as may be necessary for fiscal year 2003-2004, and the sum of $2,500,000, or so much thereof as may be necessary for fiscal year 2004-2005, to be deposited into the loss mitigation grant fund.

SECTION 2. There is appropriated out of the loss mitigation grant fund the sum of $3,500,000, or so much thereof as may be necessary for fiscal year 2003-2004, and the sum of $2,500,000, or so much thereof as may be necessary for fiscal year 2004-2005, to develop and implement the grant program established under Act 179, Session Laws of Hawaii 2002.

The sums appropriated shall be expended by the insurance commissioner for the purposes of the Act; provided that the commissioner may carry over unexpended and unencumbered funds from fiscal year 2003-2004 into fiscal year 2004-2005; and provided further that at the end of the fiscal biennium 2003-2005, the unexpended and unencumbered funds shall be returned to the general fund in accordance with section 40-66, Hawaii Revised Statutes.

SECTION 3. This Act shall take effect on July 1, 2003; provided that funds appropriated under this Act may be used to pay grants awarded retroactive to January 1, 2003.