Funds; application of payments
HRS §219-4
in effect219-4. Funds; application of payments
(a) There is established a special fund to be known as the aquaculture loan revolving fund from which moneys shall be loaned by the department of agriculture and biosecurity under this chapter. The department, by its board of agriculture and biosecurity, may transfer moneys from the aquaculture loan revolving fund to the agricultural loan revolving fund, from which moneys shall be disbursed by the department pursuant to chapter 155, and may transfer moneys from that revolving fund to the aquaculture loan revolving fund for disbursement pursuant to this chapter; provided that:
(1) The amount of moneys transferred shall not exceed
$1,000,000 for each revolving fund within the calendar year; and
(2) Twenty days prior to the convening of each
regular session of the legislature, the department shall report to the
legislature all transfers that were made between the aquaculture loan revolving
fund and the agricultural loan revolving fund during the preceding calendar
year and the balance of each revolving fund as of December 31 of each year.
(b) All interests and fees collected by the
department shall be deposited in a loan reserve fund to the extent needed to
carry on the operations of this program; any moneys surplus to these needs
shall be transferred to the aquaculture loan revolving fund at the discretion
of the department. All payments received on account of principal shall be
credited to the loan revolving fund.
[L 1971, c 181, pt of §1; ree L 1977, c
212, pt of §2; am L 1978, c 88, §1; am L 1979, c 137, §4; am L 1987, c 110, §2;
am L 1989, c 347, §3; am L 1992, c 69, §3; am L 1995, c 11, §14; am L 1996, c
253, §4; am L 2025, c 236, §§17, 18]
Source: Hawaii State Legislature (capitol.hawaii.gov), via Internet Archive capturesURL: http://www.capitol.hawaii.gov/hrscurrent/Vol04_Ch0201-0257/HRS0219/HRS_0219-0004.htmFetched: 11/10/2026