Bill > SB486

This bill establishes the Pomaikai Hawaii Fund, a new trust fund located outside the state treasury, which will be administered by the Department of Budget and Finance. The fund will be primarily financed by a percentage of visitor green fees (though the exact percentage is not specified in the bill), and it is designed to exclusively benefit bona fide Hawaii residents. The bill requires the director of finance to develop administrative rules that will determine the fund's governance structure, including criteria for fund management and compensation distribution. Specifically, the administrative rules must outline: the composition of the administering board, eligibility requirements for receiving compensation (including frequency and amount), and investment guidelines, which should be modeled after existing retirement and health benefits trust fund systems. The fund is legally protected, meaning that all contributions, assets, interest, and earnings are held in trust and cannot be appropriated for any purpose other than benefiting Hawaii residents. The bill will take effect immediately upon approval, and any new statutory material is underscored to highlight the changes.

Budget and Finance

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=486&year=2026