HB2399 HD1

Report Title:

Marine Research; Appropriation

 

Description:

Appropriates funds for certain projects to support marine research. (HB2399 HD1)

HOUSE OF REPRESENTATIVES	H.B. NO.	2399
TWENTY-FIRST LEGISLATURE, 2002		H.D. 1
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 industries that are environmentally friendly and help to diversify Hawaii's economy.

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 purposes of financing the construction of marine research, aquaculture, marine biotechnology development, and training facilities; provided that funds shall be made available under this Act only to the extent that private or federal sources, or both, provide $2 for every $1 appropriated in this Act, for the purposes for which the sum herein is appropriated.

SECTION 3. The appropriation made for the capital improvement projects authorized in this Act shall not lapse at the end of the fiscal biennium for which the appropriation is made; provided that all appropriations 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 agriculture for the purposes of this Act.

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