Bill > HB1076

This bill establishes the Climate Mitigation and Resiliency Special Fund to address Hawaii's climate emergency by creating a dedicated funding mechanism for climate-related projects. The bill mandates that all interest earned from the Emergency and Budget Reserve Fund (a state financial safety net) will now be directed to this new special fund, which will be administered by the Department of Defense. The fund can receive money from various sources including legislative appropriations, governmental grants, private donations, and a portion of the transient accommodations tax. Funds can be used to support projects that mitigate climate change impacts, increase resilience against environmental challenges, and cover related administrative costs. The legislature's findings emphasize that Hawaii is experiencing significant climate change effects that threaten the state's economy, environment, and way of life, and that immediate, comprehensive action is necessary. The bill appropriates an unspecified amount of money for fiscal years 2025-2026 and 2026-2027 to advance climate change impact projects, with the provision that unused funds will lapse back into the fund by June 30, 2028. While the bill's effective date is listed as July 1, 3000 (which appears to be a placeholder or error), it is likely intended to take effect in the near future.

Agriculture and Natural Resources, Budget and Finance

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=1076&year=2025