HB 2547HawaiiProcess complete

Hawaii lets its finance director invest spare money in corporate bonds

Hawaii’s finance director may buy highly rated corporate bonds with money the state does not need immediately, provided the investments do not interfere with state finances.

What it does

Hawaii’s finance director may invest spare state money in corporate bonds without disrupting state finances. The bonds must be rated at least AA- or its equivalent and be due for repayment within five years.

Argument forBuying highly rated corporate bonds could help Hawaii earn more on spare money, leaving more available for state programs.

Argument againstState funds could lose money if a company fails to repay its bonds, even when those bonds meet the required credit rating.

More detail

Hawaii’s finance director may buy short-term corporate bonds, which are loans to companies that pay interest. Only state money that the director judges is beyond what Hawaii needs immediately may be invested. The director must judge that investing the money will not interfere with the state’s necessary financial operations. The bonds must have a high credit rating of at least AA- or its equivalent. The investment and any underlying securities must be due for repayment no more than five years from the investment date. The law took effect upon approval on June 8, 2026.

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Where it stands

IntroducedJan 28
Passed HouseMar 10
Passed SenateApr 14
To Governor
Became LawJun 9

Looking ahead

No hearings or votes scheduled.

History

2026
1. Jun 9Act 115, 06/08/2026 (Gov. Msg. No. 1215).Latest
2. Jun 9Act 115, on 06/08/2026 (Gov. Msg. No. 1215).Became Law
3. May 8Received notice of passage on Final Reading in House (Hse. Com. No. 888).Minor
4. May 7Transmitted to Governor.
5. May 6Passed Final Reading, as amended (CD 1). Ayes, 25; Aye(s) with reservations: none . 0 No(es): none. 0 Excused: none.Major
  - Vote recorded Passed Final Reading as amended in CD 1. Result: pass.Lower
6. May 6Passed Final Reading as amended in CD 1 with none voting aye with reservations; none voting no (0) and none excused (0).Major
7. May 6Received notice of Final Reading (Sen. Com. No. 816).Minor
8. May 1Conference committee meeting to reconvene on 05-01-26 1:00 PM; Conference Room 309.
  - Vote recorded The Conference committee recommends that the measure be PASSED, WITH AMENDMENTS. Result: pass.Upper
  - Vote recorded The Conference Committee recommends that the measure be Passed, with Amendments. Result: pass.Lower
9. May 1Conference committee meeting to reconvene on 05-01-26 3:30 PM; Conference Room 309.
10. May 1Conference committee meeting to reconvene on 05-01-26 4:30 PM; Conference Room 309.
11. May 1The Conference Committee recommends that the measure be Passed, with Amendments. The votes were as follows: 3 Ayes: Representative(s) Takenouchi, Kitagawa, Reyes Oda; Ayes with reservations: none; 0 Noes: none; and 0 Excused: none.Minor
12. May 1The Conference committee recommends that the measure be PASSED, WITH AMENDMENTS. The votes of the Senate Conference Managers were as follows: 2 Aye(s): Senator(s) Moriwaki, Kanuha; Aye(s) with reservations: none ; 0 No(es): none; and 1 Excused: Senator(s) Fevella.Minor
13. May 1Reported from Conference Committee (Conf Com. Rep. No. 139-26) as amended in (CD 1).
14. May 1Forty-eight (48) hours notice Wednesday, 05-06-26.
15. May 1Reported from Conference Committee as amended CD 1 (Conf. Com. Rep. No. 139-26).
16. May 148 Hrs. Notice (as amended CD 1) 05-06-26
17. Apr 30Conference committee meeting to reconvene on 05-01-26 11:00AM; Conference Room 309.
18. Apr 29Conference committee meeting scheduled for 04-30-26 11:00AM; CR 309.
19. Apr 20House Conferees Appointed: Takenouchi Chair; Kitagawa, Reyes Oda.
20. Apr 20Received notice of appointment of House conferees (Hse. Com. No. 786).Minor
21. Apr 20Senate Conferees Appointed: Moriwaki Chair; Kanuha, Fevella.
22. Apr 20Received notice of Senate conferees (Sen. Com. No. 713).Minor
23. Apr 17Received notice of disagreement (Hse. Com. No. 780).Minor
24. Apr 16House disagrees with Senate amendment (s).Minor
25. Apr 14Passed Third Reading, as amended (SD 1). Ayes, 25; Aye(s) with reservations: none . Noes, 0 (none). Excused, 0 (none). Transmitted to House.Passed Senate
  - Vote recorded Passed Third Reading, as amended (SD 1). Result: pass.Upper
26. Apr 14Returned from Senate (Sen. Com. No. 702) in amended form (SD 1).
27. Apr 10Reported from WAM (Stand. Com. Rep. No. 3725) with recommendation of passage on Second Reading, as amended (SD 1) and placement on the calendar for Third Reading.
28. Apr 10Report adopted; Passed Second Reading, as amended (SD 1).Minor
29. Apr 1048 Hrs. Notice 04-14-26.
30. Apr 9The committee(s) on WAM recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in WAM were as follows: 13 Aye(s): Senator(s) Dela Cruz, Moriwaki, DeCoite, Elefante, Hashimoto, Inouye, Kanuha, Kidani, Kim, Lee, C., Richards, Wakai, Fevella; Aye(s) with reservations: none ; 0 No(es): none; and 0 Excused: none.Minor
  - Vote recorded The committee(s) on WAM recommend(s) that the measure be PASSED, WITH AMENDMENTS. Result: pass.Upper
31. Apr 8The committee(s) on WAM has scheduled a public hearing on 04-09-26 10:31AM; Conference Room 211 & Videoconference.
32. Apr 8Public notice requirement waived pursuant to Senate Rule 21.
33. Mar 12Received from House (Hse. Com. No. 436).Minor
34. Mar 12Passed First Reading.Minor
35. Mar 12Referred to WAM.Minor
36. Mar 10Passed Third Reading with none voting aye with reservations; none voting no (0) and none excused (0). Transmitted to Senate.Passed House
  - Vote recorded Passed Third Reading. Result: pass.Lower
37. Mar 6Reported from FIN (Stand. Com. Rep. No. 1015-26) as amended in HD 1, recommending passage on Second Reading and placement on the calendar for Third Reading.
  - Vote recorded Passed Second Reading as amended in HD 1; placed on the calendar for Third Reading. Result: pass.Lower
38. Mar 6Passed Second Reading as amended in HD 1; placed on the calendar for Third Reading with none voting aye with reservations; none voting no (0) and Representative(s) Hashem, Perruso, Quinlan, Sayama excused (4).
39. Feb 25The committee on FIN recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 16 Ayes: Representative(s) Todd, Takenouchi, Hartsfield, Hussey, Keohokapu-Lee Loy, Kitagawa, Kusch, Lee, M., Miyake, Morikawa, Perruso, Templo, Yamashita, Alcos, Gedeon, Reyes Oda; Ayes with reservations: none; Noes: none; and Excused: none.Minor
  - Vote recorded The committee on FIN recommend that the measure be PASSED, WITH AMENDMENTS. Result: pass.Lower
40. Feb 23Bill scheduled to be heard by FIN on Wednesday, 02-25-26 2:00PM in House conference room 308 VIA VIDEOCONFERENCE.
41. Feb 2Referred to FIN, referral sheet 6Minor
42. Jan 28Introduced and Pass First Reading.Introduced

Taxes & Budget

Issue with this bill?

HB 2547HawaiiProcess complete

Hawaii lets its finance director invest spare money in corporate bonds

Hawaii’s finance director may buy highly rated corporate bonds with money the state does not need immediately, provided the investments do not interfere with state finances.

What it does

Argument forBuying highly rated corporate bonds could help Hawaii earn more on spare money, leaving more available for state programs.

Argument againstState funds could lose money if a company fails to repay its bonds, even when those bonds meet the required credit rating.

More detail

Where do you stand?

Tell your reps

Take a position to see your representatives and ways to contact them.

More on this bill

Where it stands

IntroducedJan 28
Passed HouseMar 10
Passed SenateApr 14
To Governor
Became LawJun 9

Looking ahead

No hearings or votes scheduled.

History

2026
1. Jun 9Act 115, 06/08/2026 (Gov. Msg. No. 1215).Latest
2. Jun 9Act 115, on 06/08/2026 (Gov. Msg. No. 1215).Became Law
3. May 8Received notice of passage on Final Reading in House (Hse. Com. No. 888).Minor
4. May 7Transmitted to Governor.
5. May 6Passed Final Reading, as amended (CD 1). Ayes, 25; Aye(s) with reservations: none . 0 No(es): none. 0 Excused: none.Major
  - Vote recorded Passed Final Reading as amended in CD 1. Result: pass.Lower
6. May 6Passed Final Reading as amended in CD 1 with none voting aye with reservations; none voting no (0) and none excused (0).Major
7. May 6Received notice of Final Reading (Sen. Com. No. 816).Minor
8. May 1Conference committee meeting to reconvene on 05-01-26 1:00 PM; Conference Room 309.
  - Vote recorded The Conference committee recommends that the measure be PASSED, WITH AMENDMENTS. Result: pass.Upper
  - Vote recorded The Conference Committee recommends that the measure be Passed, with Amendments. Result: pass.Lower
9. May 1Conference committee meeting to reconvene on 05-01-26 3:30 PM; Conference Room 309.
10. May 1Conference committee meeting to reconvene on 05-01-26 4:30 PM; Conference Room 309.
11. May 1The Conference Committee recommends that the measure be Passed, with Amendments. The votes were as follows: 3 Ayes: Representative(s) Takenouchi, Kitagawa, Reyes Oda; Ayes with reservations: none; 0 Noes: none; and 0 Excused: none.Minor
12. May 1The Conference committee recommends that the measure be PASSED, WITH AMENDMENTS. The votes of the Senate Conference Managers were as follows: 2 Aye(s): Senator(s) Moriwaki, Kanuha; Aye(s) with reservations: none ; 0 No(es): none; and 1 Excused: Senator(s) Fevella.Minor
13. May 1Reported from Conference Committee (Conf Com. Rep. No. 139-26) as amended in (CD 1).
14. May 1Forty-eight (48) hours notice Wednesday, 05-06-26.
15. May 1Reported from Conference Committee as amended CD 1 (Conf. Com. Rep. No. 139-26).
16. May 148 Hrs. Notice (as amended CD 1) 05-06-26
17. Apr 30Conference committee meeting to reconvene on 05-01-26 11:00AM; Conference Room 309.
18. Apr 29Conference committee meeting scheduled for 04-30-26 11:00AM; CR 309.
19. Apr 20House Conferees Appointed: Takenouchi Chair; Kitagawa, Reyes Oda.
20. Apr 20Received notice of appointment of House conferees (Hse. Com. No. 786).Minor
21. Apr 20Senate Conferees Appointed: Moriwaki Chair; Kanuha, Fevella.
22. Apr 20Received notice of Senate conferees (Sen. Com. No. 713).Minor
23. Apr 17Received notice of disagreement (Hse. Com. No. 780).Minor
24. Apr 16House disagrees with Senate amendment (s).Minor
25. Apr 14Passed Third Reading, as amended (SD 1). Ayes, 25; Aye(s) with reservations: none . Noes, 0 (none). Excused, 0 (none). Transmitted to House.Passed Senate
  - Vote recorded Passed Third Reading, as amended (SD 1). Result: pass.Upper
26. Apr 14Returned from Senate (Sen. Com. No. 702) in amended form (SD 1).
27. Apr 10Reported from WAM (Stand. Com. Rep. No. 3725) with recommendation of passage on Second Reading, as amended (SD 1) and placement on the calendar for Third Reading.
28. Apr 10Report adopted; Passed Second Reading, as amended (SD 1).Minor
29. Apr 1048 Hrs. Notice 04-14-26.
30. Apr 9The committee(s) on WAM recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in WAM were as follows: 13 Aye(s): Senator(s) Dela Cruz, Moriwaki, DeCoite, Elefante, Hashimoto, Inouye, Kanuha, Kidani, Kim, Lee, C., Richards, Wakai, Fevella; Aye(s) with reservations: none ; 0 No(es): none; and 0 Excused: none.Minor
  - Vote recorded The committee(s) on WAM recommend(s) that the measure be PASSED, WITH AMENDMENTS. Result: pass.Upper
31. Apr 8The committee(s) on WAM has scheduled a public hearing on 04-09-26 10:31AM; Conference Room 211 & Videoconference.
32. Apr 8Public notice requirement waived pursuant to Senate Rule 21.
33. Mar 12Received from House (Hse. Com. No. 436).Minor
34. Mar 12Passed First Reading.Minor
35. Mar 12Referred to WAM.Minor
36. Mar 10Passed Third Reading with none voting aye with reservations; none voting no (0) and none excused (0). Transmitted to Senate.Passed House
  - Vote recorded Passed Third Reading. Result: pass.Lower
37. Mar 6Reported from FIN (Stand. Com. Rep. No. 1015-26) as amended in HD 1, recommending passage on Second Reading and placement on the calendar for Third Reading.
  - Vote recorded Passed Second Reading as amended in HD 1; placed on the calendar for Third Reading. Result: pass.Lower
38. Mar 6Passed Second Reading as amended in HD 1; placed on the calendar for Third Reading with none voting aye with reservations; none voting no (0) and Representative(s) Hashem, Perruso, Quinlan, Sayama excused (4).
39. Feb 25The committee on FIN recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 16 Ayes: Representative(s) Todd, Takenouchi, Hartsfield, Hussey, Keohokapu-Lee Loy, Kitagawa, Kusch, Lee, M., Miyake, Morikawa, Perruso, Templo, Yamashita, Alcos, Gedeon, Reyes Oda; Ayes with reservations: none; Noes: none; and Excused: none.Minor
  - Vote recorded The committee on FIN recommend that the measure be PASSED, WITH AMENDMENTS. Result: pass.Lower
40. Feb 23Bill scheduled to be heard by FIN on Wednesday, 02-25-26 2:00PM in House conference room 308 VIA VIDEOCONFERENCE.
41. Feb 2Referred to FIN, referral sheet 6Minor
42. Jan 28Introduced and Pass First Reading.Introduced

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What it does

Where do you stand?

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More on this bill

Where it stands

Looking ahead

History