Water pollution control revolving fund; transfers
HRS §342D-85.5
in effect342D-85.5. Water pollution control revolving fund; transfers
The governor, or a state official acting pursuant to authorization from the governor, may transfer an amount up to or equal to thirty-three per cent, calculated on the basis of a fiscal year's drinking water treatment revolving loan fund capitalization grant amount, from the water pollution control revolving fund to the drinking water treatment revolving loan fund established under section 340E-35, or an equivalent dollar amount from the drinking water treatment revolving loan fund to the water pollution control revolving fund established under section 342D-83. The following conditions shal1 apply:
(1) When the State initially decides to transfer
funds pursuant to this section:
(A) The attorney
general, or an individual
designated by the attorney general,
shall have signed or concurred in a certification for the drinking water
treatment revolving loan fund and water pollution control revolving fund that
state law permits the State to transfer funds; and
(B) The operating agreements
or other parts of the capitalization grant agreements for the
drinking water treatment revolving loan fund and water pollution control
revolving fund shall be
amended to detail the method the State shall use to transfer funds;
(2) The State shall not
use the transfer provision to acquire state match for either fund or use
transferred funds to secure or repay state match bonds;
(3) The State may reserve fund amounts for transfer in future years pursuant to requirements under federal
law; and
(4) Funds may be
transferred on a net basis between
the water pollution control
revolving fund and drinking water treatment revolving loan fund; provided
that
the thirty-three per cent transfer
allowance associated
with drinking water treatment
revolving loan fund capitalization grants received is not exceeded.
[L 2024, c 218, §3]
Source: Hawaii State Legislature (capitol.hawaii.gov), via Internet Archive capturesURL: http://www.capitol.hawaii.gov/hrscurrent/Vol06_Ch0321-0344/HRS0342D/HRS_0342D-0085_0005.htmFetched: 11/10/2026