Bill > SB2193

This bill amends existing Hawaii law to require the Director of Finance, before selecting a bank to hold the state's money, to consider the benefits of using banks located within Hawaii. These benefits include, but are not limited to, whether the bank offers loans at favorable terms for the creation of certain affordable housing units, specifically housing available below market price or exclusively for state residents who do not own other property. The bill also clarifies that when choosing a bank, the type of security offered will be a primary factor, and due consideration should be given to banks operating within the state. Additionally, it modifies the limits on how much of the state's money can be deposited in banks outside of Hawaii and in any single bank, with an exception allowing more than sixty percent to be deposited in a Hawaii-based bank if it offers a higher interest rate while still ensuring the safety and liquidity of the funds. This change is set to take effect on July 1, 2050.

Business and Industry

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=2193&year=2026