Bill Text: HI SB2348 | 2012 | Regular Session | Amended
Bill Title: State Educational Facilities Improvement Special Fund
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Engrossed - Dead) 2012-03-08 - (H) Referred to EDN, FIN, referral sheet 41 [SB2348 Detail]
Download: Hawaii-2012-SB2348-Amended.html
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THE SENATE |
S.B. NO. |
2348 |
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TWENTY-SIXTH LEGISLATURE, 2012 |
S.D. 2 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO THE STATE EDUCATIONAL FACILITIES IMPROVEMENT SPECIAL FUND.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 36-32, Hawaii Revised Statutes, is amended by amending subsections (a) and (b) to read as follows:
"(a) There is created in the treasury of
the State the state educational facilities improvement special fund[, into
which shall be deposited a portion of all general excise tax revenues collected
by the department of taxation under section 237-31]. The special fund
shall be used solely to plan, design, acquire lands for, and to construct
public school facilities and to provide equipment and technology infrastructure
to improve public schools and other facilities under the jurisdiction of the
department of education, except public libraries. In addition, activities of
the department of education intended to eliminate the gap between the facility
needs of schools and available resources shall be eligible for funding from the
special fund. Expenditures from the special fund shall be limited to projects
authorized by the legislature for fiscal years ending prior to July 1, 2013,
and shall be subject to sections 37-31, and 37-33 through 37-40.
Appropriations or authorizations from the special fund shall be expended by the
superintendent of education.
(b) There is established within the state educational facilities improvement special fund a separate account, to be known as the lease payments for schools account, for lease payments required by financing agreements entered into by the department of education prior to July 1, 2012, pursuant to this section and sections 37D-2 and 302A-1506. The lease payments for schools account shall be funded by legislative appropriations and expended by the superintendent of education. Expenditures from the lease payments for schools account shall be exempt from chapters 103 and 103D and are restricted to lease payments on new schools included within the department of education's current six year capital improvement programs and for which:
(1) The legislature adopted a concurrent resolution directing the department of education to:
(A) Build a new school in a specific geographic area using the design-build method; and
(B) Pursue the use of a financing agreement to build the new school; or
(2) The legislature appropriated planning and design funds and specified that the remainder of the costs necessary to complete the project are eligible for funding through a financing agreement;
provided that any school to which the legislature
has appropriated planning and design funds prior to July 1, 2007, and
for which a private developer is willing to enter into a lease-purchase
agreement with the department of education within twelve months of July 1, 2007,
is exempt from the requirements of [[]paragraphs[]] (1) and (2)."
SECTION 2. Section 237-31, Hawaii Revised Statutes, is amended to read as follows:
"§237-31 Remittances. All remittances of taxes imposed by this chapter shall be made by money, bank draft, check, cashier's check, money order, or certificate of deposit to the office of the department of taxation to which the return was transmitted. The department shall issue its receipts therefor to the taxpayer and shall pay the moneys into the state treasury as a state realization, to be kept and accounted for as provided by law; provided that:
[(1) The sum from all general excise tax
revenues realized by the State that represents the difference between
$45,000,000 and the proceeds from the sale of any general obligation bonds
authorized for that fiscal year for the purposes of the state educational
facilities improvement special fund shall be deposited in the state treasury in
each fiscal year to the credit of the state educational facilities improvement
special fund;
(2)] (1) A sum, not to exceed
$5,000,000, from all general excise tax revenues realized by the State shall be
deposited in the state treasury in each fiscal year to the credit of the
compound interest bond reserve fund; and
[(3)] (2) A sum from all general excise
tax revenues realized by the State that is equal to one-half of the total
amount of funds appropriated or transferred out of the hurricane reserve trust
fund under sections 4 and 5 of Act 62, Session Laws of Hawaii 2011, shall be
deposited into the hurricane reserve trust fund in fiscal year 2013-2014 and in
fiscal year 2014-2015; provided that the deposit required in each fiscal year
shall be made by October 1 of that fiscal year."
SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 4. This Act shall take effect upon approval.
Report Title:
State Educational Facilities Improvement Special Fund
Description:
Removes the requirement that general excise tax revenues be deposited to the credit of the state educational facilities improvement special fund. Limits expenditures from the special fund to projects authorized by the legislature for fiscal years ending prior to 7/1/2013. Limits lease payments required by financing agreements paid from the special fund to those entered into prior to 7/1/2012. (SD2)
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
