RELATING TO THE POMAIKAI HAWAII FUND.
Sponsored By: Stanley Chang (Democratic)
In Committee
Summary
Establishes the Pomaikai Hawaii Fund, a state-owned sovereign wealth fund, into which certain portions of the transient accommodations tax revenues, moneys from general fund balance surpluses, moneys from civil action settlements where the State is a party, and a portion of the proceeds from the sale or other disposition of public lands shall be deposited. Establishes a Board of Directors to manage and invest the moneys in the Fund and distribute the earnings to qualified residents of the State beginning calendar year 2030. Requires the Board to adopt rules. Requires the Director of Finance to provide guidance to the Board on the establishment and administration of the Fund. Requires reports to the Legislature.
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & Cosponsors
Sponsor
Stanley Chang
Democratic • Senate
Cosponsors
Kurt Fevella
Republican • Senate
Karl Rhoads
Democratic • Senate
Roll Call Votes
No roll call votes available for this bill.
Actions Timeline
Referred to EDT, WAM/JDC.
1/26/2026SenateIntroduced and passed First Reading.
1/21/2026SenatePending Introduction.
1/14/2026Senate
Bill Text
Original
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