HB2399

Report Title:

Marine Research; Appropriation

 

Description:

Appropriates funds for certain projects to support marine research.

HOUSE OF REPRESENTATIVES	H.B. NO.	2399
TWENTY-FIRST LEGISLATURE, 2002
STATE OF HAWAII

A BILL FOR AN ACT

 

making an appropriation for certain projects to support MARINE RESEARCH.

 

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

SECTION 1. The legislature recognizes the importance of marine research in Hawaii to support the State's efforts to diversify Hawaii's economy. Specifically, the legislature finds it imperative to promote research in food fish and marine ornamentals, and to promote marine biotechnology--the efforts of which will help Hawaii's move toward self-sufficiency. More importantly, these efforts will provide new jobs in more and varied clean industries.

The legislature, however, recognizes that the State has extremely limited resources and, therefore, would like to see such efforts implemented with joint ventures with private and federal government resources.

SECTION 2. The director of finance is authorized to issue general obligation bonds in the sum of $10,000,000, or so much thereof as may be necessary, and the same sum, or so much thereof as may be necessary is appropriated for fiscal year 2002-2003, for the purpose of financing the construction of marine research, aquaculture, marine biotechnology development, and training facilities. Provided, however, that the appropriation made in this Act shall be matched by private, or federal funds, or both, by at least $2 for every $1 of state funds expended.

SECTION 3. The appropriation made for the purpose authorized in this Act shall not lapse at the end of the fiscal year for which the appropriation is made; provided that all moneys from the appropriation that are unencumbered as of June 30, 2005, shall lapse as of that date.

SECTION 4. The sum appropriated shall be expended by the department of business, economic development, and tourism for the purposes of this Act.

SECTION 5. This Act shall take effect on July 1, 2002.

INTRODUCED BY:	_____________________________