SB 1395 Hawaii Senate · 2025 Regular Session

RELATING TO STATE FUNDS.

Summary

Allocates interest earned on balances within the emergency and budget reserve fund to the general fund in years in which the emergency and budget reserve fund's balance exceeds the State's fund balance objective. For any fiscal year following a fiscal year in which emergency and budget reserve fund interest is deposited into the general fund, requires the Governor to include in the budget or supplemental budget submitted to the Legislature a request that an amount of general funds equal to the amount of interest deposited be expended to advance projects that address climate change impacts. Effective 7/1/3000. (HD1)

Issues: ✓ Budget & Taxes

Bill status passed 3 of 5 stages cleared

Introduction

Jan 2025

Committee Review

Mar 2025

Senate Passage

Mar 2025

House Passage

Governor

Introduced Jan 21, 2025 Last action Mar 18, 2025

Maddy AI version diff · 3 comparisons

What changed between versions

SB1395_SD1 → SB1395_SD2 · 5 edits

MODERATE

This bill was revised to shift climate funding priorities from establishing a new special fund to using existing emergency reserve fund interest for climate projects. The changes redirect interest from the emergency and budget reserve fund to the general fund when balances exceed targets, requiring the governor to request specific climate projects in subsequent budgets. This approach replaces a dedicated special fund with a more flexible budgetary mechanism tied to reserve fund performance.

Scope change

The bill's scope shifted from creating a permanent special fund administered by the Department of Defense to a temporary budget request mechanism tied to emergency reserve fund interest allocations.

FISCAL

Removed establishment of a new 'climate mitigation and resiliency special fund' and its funding sources (transient accommodations tax, donations, grants).

Removed allocation of transient accommodations tax revenues to a special fund for climate projects.

REQUIREMENT

Added requirement for governor to request general funds equal to excess emergency reserve interest for climate projects in subsequent fiscal years.

TIMELINE

Changed effective date from July 1, 2015 (original) to July 1, 2050 (revised).

ELIGIBILITY

Changed eligibility from a dedicated special fund to general fund expenditures contingent on emergency reserve fund balance thresholds.

Floor votes

How they voted

This bill passed the Senate by voice vote (no roll call recorded).

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Mar 14, 2025

Committee

Reported from EEP (Stand. Com. Rep. No. 1248) as amended in HD 1, recommending passage on Second Reading and referral to WAL.

lower

Mar 13, 2025

Lower · Passed

The committee on EEP recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 5 Ayes: Representative(s) Lowen, Perruso, Kahaloa, Kusch, Quinlan; Ayes with reservations: none; Noes: none; and 1 Excused: Representative(s) Ward.

lower

Mar 6, 2025

Committee

Referred to EEP, WAL, FIN, referral sheet 19

lower

Mar 4, 2025

Introduced

Received from Senate (Sen. Com. No. 321) in amended form (SD 2).

lower

Mar 4, 2025

Upper · Passed

Report Adopted; Passed Third Reading, as amended (SD 2). Ayes, 23; Aye(s) with reservations: none. Noes, 2 (Senator(s) Awa, DeCorte). Excused, 0 (none). Transmitted to House.

upper

Feb 27, 2025

Upper · Passed

The committee(s) on WAM recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in WAM were as follows: 13 Aye(s): Senator(s) Dela Cruz, Moriwaki, Aquino, DeCoite, Elefante, Hashimoto, Inouye, Kanuha, Kidani, Kim, Lee, C., Wakai, Fevella; Aye(s) with reservations: none ; 0 No(es): none; and 0 Excused: none.

upper

Feb 21, 2025

Upper · Passed

The committee(s) on WAM will hold a public decision making on 02-27-25 10:30AM; Conference Room 211 & Videoconference.

upper

Feb 11, 2025

Committee

Reported from AEN (Stand. Com. Rep. No. 268) with recommendation of passage on Second Reading, as amended (SD 1) and referral to WAM.

upper

Feb 3, 2025

Upper · Passed

The committee(s) on AEN recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in AEN were as follows: 3 Aye(s): Senator(s) Gabbard, Richards, Rhoads; Aye(s) with reservations: none ; 1 No(es): Senator(s) Awa; and 1 Excused: Senator(s) DeCoite.

upper

Jan 31, 2025

Upper · Passed

The committee(s) on AEN has scheduled a public hearing on 02-03-25 1:02PM; Conference Room 224 & Videoconference.

upper

Jan 27, 2025

Committee

Referred to AEN, WAM.

upper

Jan 23, 2025

Introduced

Introduced and passed First Reading.

upper

Jan 21, 2025

Introduced

Pending Introduction.

upper

1 primary · 0 co-sponsors