REPORT TITLE: 
Financial Institutions



DESCRIPTION: 
Dedicates $2,500,000 from franchise tax revenues to the
compliance resolution fund. (CD1)

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                        1144
THE SENATE                              S.B. NO.           S.D. 1
TWENTIETH LEGISLATURE, 1999                                H.D. 2
STATE OF HAWAII                                            C.D. 1
                                                             
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                   A  BILL  FOR  AN  ACT

RELATING TO FINANCIAL INSTITUTIONS.



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

 1      SECTION 1. Section 241-7, Hawaii Revised Statutes, is
 
 2 amended to read as follows:
 
 3      "�241-7 Disposition of funds.  All taxes collected under
 
 4 this chapter shall be state realizations[.]; provided that, by
 
 5 June 30 of each fiscal year, the sum of $2,500,000 shall be
 
 6 deposited with the director of finance to the credit of the
 
 7 compliance resolution fund as established pursuant to section
 
 8 26-9(o)."
 
 9      SECTION 2.  Statutory material to be repealed is bracketed.
 
10 New statutory material is underscored.
 
11      SECTION 3.  This Act shall take effect upon its approval.