Proposing an Amendment to Article VII, Section 6, of the Hawaii Constitution, Relating to the Disposition of Excess Revenues
Hawaii Ballot Measure - SB 2554
Election: Nov. 8, 2016 (General)
Government Budget and Spending
Proposes a constitutional amendment to add alternatives for the disposition of excess general fund revenues. Allows the appropriation of general funds for the pre-payment of general obligation bond debt service or pension or other post-employment benefit liabilities.
Shall the legislature be provided, when the state general fund balance at the close of each of two successive fiscal years exceeds five per cent of the general fund revenues for each of the two fiscal years, the additional alternatives of appropriating general funds for the pre-payment of either or both of the following:
1. Debt service for the general obligation bonds issued by the State; or
2. Pension or other post-employment benefit liabilities accrued for state employees?
YES ( ) NO ( )