Report Title:

Constitution; Projected Excess Revenues

 

Description:

Routes a portion of projected increases in general fund revenues to emergency and budget reserve fund established by law.  Sets 7% as the percentage that triggers the disposition.

 


HOUSE OF REPRESENTATIVES

H.B. NO.

993

TWENTY-FIFTH LEGISLATURE, 2009

 

STATE OF HAWAII

 

 

 

 

 

 

A BILL FOR AN ACT


 

 

PROPOSING AN AMENDMENT TO THE HAWAII CONSTITUTION, relating TO THE DISPOSITION OF projected EXCESS REVENUES.

 

 

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

 


     SECTION 1.  The purpose of this Act is to add a new section to article VII, of the Constitution of the State of Hawaii to require that if the general fund revenues in any fiscal year are projected to exceed by at least seven percent the general fund revenues in the prior fiscal year, a sum equal to the amount in excess of seven percent of the projected increase in revenues shall be deposited into an emergency and budget reserve fund as may be provided by law.

     SECTION 2.  Article VII of the Constitution of the State of Hawaii is amended by adding a new section to be appropriately designated and to read as follows:

     "Section    .  During any regular session in which the council on revenues projects prior to final adjournment that the general fund revenues for the fiscal year will exceed by at least seven percent the general fund revenues of the prior fiscal year, the legislature shall set aside an amount in excess of seven percent of the projected increase in revenues into an emergency and budget reserve fund as may be provided by law.

If the actual general fund revenues for the fiscal year do not exceed the general fund revenues of the prior fiscal year by at least seven per cent, the legislature in the next regular session may appropriate the amount previously set aside into an emergency and budget reserve fund for other purposes."

    SECTION 3.  The question to be printed on the ballot shall be as follows:

    "Shall the legislature, during any fiscal year in which the general fund revenues is projected to exceed by at least seven percent the general fund revenues in the prior fiscal year, set aside an amount in excess of seven percent of the projected increase in revenues into an emergency and budget reserve fund as may be provided by law?"

     SECTION 4.  New constitutional material is underscored.

     SECTION 5.  This amendment shall take effect upon compliance with article XVII, section 3, of the Constitution of the State of Hawaii.

 

INTRODUCED BY:

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