Bill > SB1395

This bill addresses Hawaii's climate emergency by creating a mechanism to fund climate change mitigation and adaptation projects. Specifically, the legislation allows interest earned on the state's emergency and budget reserve fund to be redirected to the general fund when the fund's balance exceeds its established objective. In the fiscal year following such a transfer, the Governor must submit a budget request to allocate an equivalent amount of general funds toward projects that address climate change impacts. These projects could include efforts to mitigate greenhouse gas emissions, adapt to changing environmental conditions, or increase the state's resilience to climate-related challenges. The bill recognizes the significant threat climate change poses to Hawaii's economy, environment, security, and way of life, and seeks to create a structured approach to investing in comprehensive climate action. By linking the emergency reserve fund's excess interest to climate change projects, the legislation aims to proactively address the state's environmental challenges while maintaining fiscal responsibility. The bill is set to take effect on July 1, 3000, which appears to be a placeholder date typically used in legislative drafting to indicate a future implementation.

Agriculture and Natural Resources, Budget and Finance

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=1395&year=2025