Bill > SB2199

This bill establishes the Pomaikai Hawaii Fund, a state-owned sovereign wealth fund, which will receive portions of transient accommodations tax revenues, general fund surpluses, civil lawsuit settlements where the State is a party, and proceeds from the sale of public lands. A Board of Directors will manage and invest these funds, with the goal of distributing earnings to qualified residents of Hawaii as cash dividends starting in calendar year 2030. The bill also mandates that the Board adopt rules for its operations, requires the Director of Finance to provide guidance on the fund's establishment and administration, and mandates reports to the Legislature. The Pomaikai Hawaii Fund is intended to provide long-term financial stability and benefit for the state's citizens, similar to Alaska's Permanent Fund, by saving and prudently investing revenues from various sources.

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https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=2199&year=2026