SB69 amends Hawaii Revised Statutes to update the process for depositing public funds, including the use of certificates of deposit and automatic.
SB69 modifies the process for depositing public funds in Hawaii. It allows for the payment of funds via checks, certificates of deposit, or automatic transfers. The bill mandates that depositories provide monthly statements of daily balances. It also sets a preference for using in-state depositories, considering factors like favorable lending terms and housing availability. The bill limits the percentage of funds that can be deposited outside the state and allows for time deposits for funds not needed immediately. The changes take effect upon approval.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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