Source: https://www.capitol.hawaii.gov/hrscurrent/Vol06_Ch0321-0344/HRS0328L/HRS_0328L-0003.htm
Timestamp: 2020-08-14 09:21:35
Document Index: 198067363

Matched Legal Cases: ['§328', '§2', '§24', '§3', '§3', '§1', '§3', '§1', '§1']

§328L-3 Emergency and budget reserve fund. (a) There is established in the state treasury the emergency and budget reserve fund, which shall be a special fund administered by the director of finance and into which shall be deposited:
(1) Moneys received from the tobacco settlement moneys under section 328L-2;
(3) Five per cent of the state general fund balance at the close of the fiscal year, whenever state general fund revenues for each of two successive fiscal years exceeds revenues for each of the preceding fiscal years by five per cent. For the purpose of this section, the general fund balance at the close of the fiscal year shall be calculated after any:
(A) Tax refund or tax credit is provided by the legislature;
(B) Deposit into the emergency and budget reserve fund or another reserve fund is appropriated by the legislature; or
(C) Prepayment of general obligation bond debt service or pension or other post-employment benefit liability is appropriated by the legislature;
during the same regular session as the transfer depositing such moneys to the emergency and budget reserve fund; provided that transfers shall not be made to the emergency and budget reserve fund whenever the balance of the emergency and budget reserve fund is equal to or more than ten per cent of general fund revenues for the preceding fiscal year. The transfer shall be executed by the director of finance.
All moneys deposited into the emergency and budget reserve fund under paragraphs (1) and (2) and all moneys deposited under paragraph (3) shall be kept in separate and distinct accounts.
(2) To provide for salary adjustments for officials appointed pursuant to article V, section 6 or article VI, section 3 of the Hawaii constitution and for others whose salaries are directly related to salaries of these officials; and
(2) In a fiscal year, an amount that exceeds ten per cent of the total discretionary funds appropriated by the legislature for the same fiscal year for which emergency and budget reserve fund moneys are appropriated. For the purpose of this paragraph, "discretionary funds" means the total amount of general fund moneys appropriated or authorized by the legislature for expenditure during the fiscal year for operating costs less nondiscretionary funds; where "nondiscretionary funds" means the total amount of general fund moneys appropriated or authorized by the legislature for expenditure during the same fiscal year for:
(A) Debt service payments for general obligation bonds;
(B) Employer contributions for pension and retirement benefits of state government employees;
(C) Employer contributions for health insurance benefits of state government employees and state government retirees;
(D) Medicaid service costs, meaning the costs of services provided to low-income persons under the medical assistance program established under chapter 346 and funded in part under title XIX of the federal Social Security Act, as amended. "Medicaid service costs" does not include the costs of management, administrative, or other overhead services performed by the department of human services for medicaid; and
(E) Other costs, including but not limited to payroll, lease costs for real property, and equipment for the same fiscal year, as determined by the legislature; and
(3) Any amount for expenditure in the succeeding fiscal year, unless the State has collected or is projected to collect less general fund tax revenue in the current fiscal year compared to the immediately preceding fiscal year. [L 1999, c 304, pt of §2; am L 2002, c 16, §24 and c 178, §3; am L 2009, c 119, §§3, 6; am L 2010, c 138, §§1, 2; am L 2017, c 6, §3, c 8, §1, and c 207, §1]