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Bill

Bill

SB 2180

RELATING TO DEPOSITS OF PUBLIC FUNDS.

2026 Regular Session Introduced by Stanley Chang and 4 co-sponsors

Hawaii bill modifies public fund deposit procedures and standards for state and county government accounts to strengthen fiscal management and depository institution requirements.

The committee(s) on HOU recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in HOU were as follows: 5 Aye(s): Senator(s) Chang, Hashimoto, Rhoads, Fevella; Aye(s) with reservations: Senator(s) Elefante ; 0 No(es): none; and 0 Excused: none.
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Bill Summary · SB 2180

Legislative bill overview

SB 2180 addresses the procedures and requirements governing how Hawaii's state and county governments must deposit and manage public funds. The bill has passed two Senate committees with amendments, indicating modifications to the original proposal regarding deposit protocols, authorized depositories, or financial management standards for public money.

Why is this important

Public fund deposit regulations directly affect government fiscal accountability, the safety of taxpayer money, and which financial institutions can hold state and county revenues. Proper deposit procedures protect against fraud, ensure funds are accessible when needed, and can impact where tax dollars flow within Hawaii's financial system.

Potential points of contention

  • Depository institution selection: Changes to which banks or credit unions can hold public funds may benefit certain financial institutions while limiting others' access to government contracts
  • Deposit requirement specificity: New or modified deposit standards could create compliance burdens for county treasurers and state finance offices if overly prescriptive or costly to implement
  • Collateral and security provisions: Amendments may alter requirements for how much collateral depositories must pledge to secure public funds, affecting both government protection and banking industry costs

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

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