Bill Text: HI HB1125 | 2019 | Regular Session | Amended
Bill Title: Relating To The Department Of Commerce And Consumer Affairs.
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Engrossed - Dead) 2019-03-07 - Referred to CPH, WAM. [HB1125 Detail]
Download: Hawaii-2019-HB1125-Amended.html
HOUSE OF REPRESENTATIVES |
H.B. NO. |
1125 |
THIRTIETH LEGISLATURE, 2019 |
H.D. 1 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO THE DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
PART I. GENERAL
PROVISIONS
SECTION 1.
The purpose of part I and part II of this Act is to establish the
operating budget for the fiscal biennium beginning July 1, 2019, and ending
June 30, 2021, for state executive branch programs under the purview of the
house of representatives standing committee on intrastate commerce.
SECTION 2.
DEFINITIONS. Unless otherwise
clear from the context, as used in part I and part II of this Act:
"Expending agency" means the
executive department, independent commission, bureau, office, board, or other
establishment of the state government (other than the legislature, office of
Hawaiian affairs, and judiciary), the political subdivisions of the State, or
any quasi‑public institution supported in whole or in part by state
funds, which is authorized to expend specified appropriations made by this Act.
Abbreviations, where used to denote the
expending agency or a standing committee of the house of representatives, shall
mean the following:
CCA Department of commerce and consumer affairs
IAC House of representatives standing committee on intrastate commerce
"Means of financing" or
"MOF" means the source from which funds are appropriated or
authorized to be expended for the programs and projects specified in this
Act. All appropriations are followed by
letter symbols. The letter symbols,
where used, shall have the following meanings:
B Special funds
T Trust funds
"Position ceiling" means the maximum
number of permanent and temporary full-time equivalent positions authorized for
a particular program during a specified period or periods, as denoted by an
asterisk for permanent full-time equivalent positions and a pound sign for
temporary full-time equivalent positions.
"Program ID" means the unique
identifier for the specific program and consists of the abbreviation for the
organization responsible for carrying out the program followed by the
organization number for the program.
PART II.
PROGRAM APPROPRIATIONS
SECTION 3. APPROPRIATIONS. The following sums, or so much thereof as may be sufficient to accomplish the purposes and programs designated herein, are hereby appropriated or authorized, as the case may be, from the means of financing specified to the expending agency designated for the fiscal biennium beginning July 1, 2019, and ending June 30, 2021. The total expenditures and the number of positions in each fiscal year of the biennium shall not exceed the sums and the number indicated for each fiscal year, except as provided elsewhere in this Act, or as provided by general law.
PROGRAM
APPROPRIATIONS |
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APPROPRIATIONS |
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ITEM NO |
PROG. ID |
PROGRAM |
EXPENDING AGENCY |
FISCAL YEAR 2019-2020 |
M O F |
FISCAL YEAR 2020-2021 |
M O F |
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40.00* 40.00*
OPERATING CCA 5,109,414B 5,109,414B
CCA 110,000T 110,000T
PART III.
STATUTORY AMENDMENTS
SECTION 4. Section 241-7, Hawaii Revised Statutes, is amended to read as follows:
"§241-7 Disposition of funds. All taxes collected under this chapter shall
be state realizations[; provided that, by June 30 of each fiscal year, the
sum of $2,000,000 shall be deposited with the director of finance to the credit
of the compliance resolution fund as established pursuant to section 26-9(o)]."
SECTION 5. Section 412:2-105, Hawaii Revised Statutes, is amended to read as follows:
"§412:2-105 Fees[.]; expenses; assessments. (a)
The commissioner shall charge any financial institution examined by the
commissioner or the commissioner's staff, an amount for travel, per diem,
mileage, and other reasonable expenses incurred in connection with the
examination.
(b) The commissioner shall bill the affected financial institution for expenses as soon as feasible after the close of the examination. The affected financial institution shall pay the division within thirty days following the billing. All such payments shall be deposited to the compliance resolution fund established pursuant to section 26-9(o). All disputes relating to these billings between the affected financial institution and the commissioner shall be resolved in accordance with the procedures for contested cases under chapter 91.
(c) A Hawaii financial institution that fails to make a payment required by this section shall be subject to an administrative fine of not more than $250 per day for each day it is in violation of this section, which fine, together with the amount due under this section, may be recovered pursuant to section 412:2-611, and shall be deposited into the compliance resolution fund established pursuant to section 26-9(o).
(d) The amount or amounts to be assessed for fees
and expenses regulated under this chapter shall be determined and assessed as
provided below:
(1) The total amount or amounts to be assessed of financial institutions regulated under this chapter shall be calculated based on the division's proposed fiscal year budget, less funds credited to the division in the compliance resolution fund on June 30 of the fiscal year immediately preceding the fiscal year of the proposed budget and less the division's anticipated revenues;
(2) The assessments shall bear a reasonable relationship to the costs of regulating the financial institutions, including any administrative costs of the division; and
(3) The sum total of all assessments made and collected shall not exceed any related funding ceiling established by the legislature; provided that the total assessments for all financial institutions in any one fiscal year shall not exceed $ ."
SECTION 6. Section 454F-41, Hawaii Revised Statutes, is amended by amending subsection (d) to read as follows:
"(d) When the mortgage loan recovery fund attains
a funding level of $750,000, the commissioner [may] shall either
make a finding to adjust the fees generated by renewals or [may]
determine that payments made by renewing licensees shall cease[.];
provided that payments shall remain ceased until the funding level falls below
$750,000. If the funding level falls
below $250,000 after the first five years of the establishment of the fund, the
commissioner may adjust the fees to a reasonable level for the purpose of
attaining a funding level of $750,000."
PART IV.
GENERAL PROVISIONS
SECTION 7.
If any portion of this Act or its application to any person, entity, or
circumstance is held to be invalid for any reason, then the legislature
declares that the remainder of the Act and each and every other provision
thereof shall not be affected thereby.
If any portion of a specific appropriation is held to be invalid for any
reason, the remaining portion shall be expended to fulfill the objective of the
appropriation to the extent possible.
SECTION 8. If manifest clerical, typographical, or other
mechanical errors are found in part I or part II of this Act, the governor may
correct the errors.
SECTION 9. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 10. This Act shall take effect on July 1, 2019.
Report Title:
State Budget; DCCA; Division of Financial Institutions; Financial Services Regulation; CCA104; IAC
Description:
Appropriates funds for Fiscal Biennium 2019-21 for operations of the Department of Commerce and Consumer Affairs division under Program ID CCA104 - Financial Services Regulation. House Committee on Intrastate Commerce. Repeals the existing statutory requirement that $2,000,000 of certain taxes collected on bank and financial corporations be deposited to the credit of the compliance resolution fund. Requires adjustments to fees and assessments collected by the Division of Financial Institutions based on the amount of moneys credited to the division in the compliance resolution fund. Requires the Commissioner of Financial Institutions to adjust fees or cease collection of payments when the mortgage loan recovery fund attains a funding level of $750,000. (HB1125 HD1)
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.