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Bill

Bill

SB 69

RELATING TO DEPOSITS OF PUBLIC FUNDS.

2025 Regular Session Introduced by Stanley Chang and 4 co-sponsors

Hawaii bill modifies state public fund deposit requirements, potentially altering which financial institutions hold state money and how deposits are managed and secured.

Reported from CPN/HOU (Stand. Com. Rep. No. 452) with recommendation of passage on Second Reading, as amended (SD 1) and referral to WAM.
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Bill Summary · SB 69

Legislative bill overview

SB 69 modifies Hawaii's requirements for where and how state government deposits public funds. The bill has passed through committee stages with amendments and is currently under consideration by the Ways and Means Committee. The specific operational changes relate to deposit procedures and eligible financial institutions for state money management.

Why is this important

Public fund deposit policies directly affect how state government manages taxpayer money, influencing factors like interest earnings, fund accessibility, and financial institution relationships. These rules establish the framework for securing state revenues and ensuring efficient cash flow for government operations and services.

Potential points of contention

  • Financial institution access: Changes may affect which banks or credit unions can hold state deposits, potentially impacting competition, local financial institutions, or deposit insurance coverage
  • Interest earnings: Different deposit locations and institutions yield varying interest rates; shifts could reduce or increase returns on idle public funds
  • Operational efficiency: New deposit procedures may create administrative burden or complexity for state treasury operations and fund accessibility during emergencies

Compiled from official sources — confirm details with the bill’s official record.

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