REPORT TITLE: Financial Institutions



DESCRIPTION: Dedicates a portion of the franchise tax revenues to
the financial examiners' revolving fund. (SB1144 SD1 HD1)


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                        1144
THE SENATE                              S.B. NO.           S.D. 1
TWENTIETH LEGISLATURE, 1999                                H.D. 1
STATE OF HAWAII                                            
                                                             
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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 forty
 
 5 per cent of all revenue and amounts received and collected under
 
 6 this chapter shall be deposited with the director of finance to
 
 7 the credit of the financial institution examiners' revolving fund
 
 8 established under §412:2-109."
 
 9      SECTION 2. Statutory material to be repealed is bracketed.
 
10 New statutory material is underscored.
 
11      SECTION 3. This Act shall take effect retroactive to
 
12 January 1, 1999.