In just one bill, legislators authorize raid of more than $17 million in special funds
From www.GrassrootInstitute.org
With the close of the 2011 Regular Legislative Session yesterday, lawmakers have finalized how they plan to achieve a balanced budget for the next 2 years. Included in this balancing act are tax increases, repealed tax credits and exemptions, and special funds authorized to be raided.
In Senate Bill 120, it states that there are many special funds “in excess of the requirements” of those funds. The director of finance has up until June 30, 2011, to raid all of that “excess” money, amounting to more than $17 million, and put it into the general fund.
Why is there so much extra money in these funds? Is the state overcharging taxpayers or has the original need that called for the collection of this money changed so dramatically that perhaps these special funds are unnecessary? Even though the Legislature has adjourned, citizens can contact lawmakers at anytime to get answers to these and any other questions (See contact information below.)
Here is a list of the special fund amounts authorized in Senate Bill 120 for transfer to the general fund:
- state risk management revolving fund - $1,000,000
- Medicaid investigations recovery fund - $500,000
- compliance resolution fund - $4,200,000
- mental health and substance abuse special fund - $2,000,000
- drug demand reduction assessments special fund - $700,000
- neurotrauma special fund - $250,000
- environmental management special fund - $750,000
- deposit beverage container deposit special fund - $300,000
- employment and training fund - $44,000
- Waialua loan subsidy program balance, contained in the rental assistance revolving fund - $1,174
- University of Hawaii faculty housing project series 1995 bond proceed special fund - $520,780
- stadium special fund - $500,000
- Kikala-Keokea housing revolving fund - $428,924
- community use of school facilities special fund - $1,000,000
- federal grants search, development, and application revolving fund - $500,000
- trauma system special fund - $1,000,000
- captive insurance administrative fund - $2,500,000
- health care revolving fund - $916,284
Total amount earmarked for raiding from these special funds = $17,111,162
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To see this post in Rooted in Reason, go to: http://tinyurl.com/3vuttn9 or go to other posts at: http://rootedinreason.com/
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