HB2547 • 2026

RELATING TO CORPORATE BONDS.

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor: NAKAMURA, KEOHOKAPU-LEE LOY, KITAGAWA, KUSCH, MIYAKE, MORIKAWA, TEMPLO
Last action: 2026-05-07
Official status: Transmitted to Governor.
Effective date: Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

RELATING TO CORPORATE BONDS.

What This Bill Does

RELATING TO CORPORATE BONDS.
Short-term Investment Grade Corporate Bonds; Director of Finance; State Moneys Authorizes the Director of Finance to invest certain state moneys in short-term investment grade corporate bonds.
(CD1)

Limits and Unknowns

This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

CD1

Hawaii published version CD1

Plain English: HB2547 CD1 HOUSE OF REPRESENTATIVES H.B.

HB2547 CD1 HOUSE OF REPRESENTATIVES H.B.
NO.
2547 THIRTY-THIRD LEGISLATURE, 2026 H.D.
1 STATE OF HAWAII S.D.

HD1

Hawaii published version HD1

Plain English: HB2547 HD1 HOUSE OF REPRESENTATIVES H.B.

HB2547 HD1 HOUSE OF REPRESENTATIVES H.B.
NO.
2547 THIRTY-THIRD LEGISLATURE, 2026 H.D.
1 STATE OF HAWAII A BILL FOR AN ACT RELATING TO CORPORATE BONDS .

SD1

Hawaii published version SD1

Plain English: HB2547 SD1 HOUSE OF REPRESENTATIVES H.B.

HB2547 SD1 HOUSE OF REPRESENTATIVES H.B.
NO.
2547 THIRTY-THIRD LEGISLATURE, 2026 H.D.
1 STATE OF HAWAII S.D.

Bill History

2026-05-08 S
Received notice of passage on Final Reading in House (Hse. Com. No. 888).
2026-05-07 H
Transmitted to Governor.
2026-05-06 H
Received notice of Final Reading (Sen. Com. No. 816).
2026-05-06 H
Passed Final Reading as amended in CD 1 with none voting aye with reservations; none voting no (0) and none excused (0).
2026-05-06 S
Passed Final Reading, as amended (CD 1). Ayes, 25; Aye(s) with reservations: none . 0 No(es): none. 0 Excused: none.
2026-05-01 S
48 Hrs. Notice (as amended CD 1) 05-06-26
2026-05-01 S
Reported from Conference Committee as amended CD 1 (Conf. Com. Rep. No. 139-26).
2026-05-01 H
Forty-eight (48) hours notice Wednesday, 05-06-26.
2026-05-01 H
Reported from Conference Committee (Conf Com. Rep. No. 139-26) as amended in (CD 1).
2026-05-01 S
The 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.
2026-05-01 H
The 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.
2026-05-01 S
Conference committee meeting to reconvene on 05-01-26 4:30 PM; Conference Room 309.
2026-05-01 S
Conference committee meeting to reconvene on 05-01-26 3:30 PM; Conference Room 309.
2026-05-01 S
Conference committee meeting to reconvene on 05-01-26 1:00 PM; Conference Room 309.
2026-04-30 S
Conference committee meeting to reconvene on 05-01-26 11:00AM; Conference Room 309.
2026-04-29 S
Conference committee meeting scheduled for 04-30-26 11:00AM; CR 309.
2026-04-20 H
Received notice of Senate conferees (Sen. Com. No. 713).
2026-04-20 S
Senate Conferees Appointed: Moriwaki Chair; Kanuha, Fevella.
2026-04-20 S
Received notice of appointment of House conferees (Hse. Com. No. 786).
2026-04-20 H
House Conferees Appointed: Takenouchi Chair; Kitagawa, Reyes Oda.
2026-04-17 S
Received notice of disagreement (Hse. Com. No. 780).
2026-04-16 H
House disagrees with Senate amendment (s).
2026-04-14 H
Returned from Senate (Sen. Com. No. 702) in amended form (SD 1).
2026-04-14 S
Passed Third Reading, as amended (SD 1). Ayes, 25; Aye(s) with reservations: none . Noes, 0 (none). Excused, 0 (none). Transmitted to House.
2026-04-10 S
48 Hrs. Notice 04-14-26.
2026-04-10 S
Report adopted; Passed Second Reading, as amended (SD 1).
2026-04-10 S
Reported 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.
2026-04-09 S
The 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.
2026-04-08 S
Public notice requirement waived pursuant to Senate Rule 21.
2026-04-08 S
The committee(s) on WAM has scheduled a public hearing on 04-09-26 10:31AM; Conference Room 211 & Videoconference.
2026-03-12 S
Referred to WAM.
2026-03-12 S
Passed First Reading.
2026-03-12 S
Received from House (Hse. Com. No. 436).
2026-03-10 H
Passed Third Reading with none voting aye with reservations; none voting no (0) and none excused (0). Transmitted to Senate.
2026-03-06 H
Passed 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).
2026-03-06 H
Reported 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.
2026-02-25 H
The 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.
2026-02-23 H
Bill scheduled to be heard by FIN on Wednesday, 02-25-26 2:00PM in House conference room 308 VIA VIDEOCONFERENCE.
2026-02-02 H
Referred to FIN, referral sheet 6
2026-01-28 H
Introduced and Pass First Reading.

Official Summary Text

RELATING TO CORPORATE BONDS.
Short-term Investment Grade Corporate Bonds; Director of Finance; State Moneys
Authorizes the Director of Finance to invest certain state moneys in short-term investment grade corporate bonds. (CD1)

Current Bill Text

Read the full stored bill text

HB2547

HOUSE OF REPRESENTATIVES

H.B. NO.

2547

THIRTY-THIRD LEGISLATURE, 2026

STATE OF HAWAII

A BILL FOR AN ACT

relating
to corporate bonds
.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

����
SECTION
1.
�
The legislature finds that the state treasury
holds all state funds, and all funds that are in excess of immediate needs are
invested in securities authorized under section 36-21, Hawaii Revised
Statutes.
�
According to a national
investment research company, investment grade corporate bonds have current
average yields of four to six per cent.
�
The
legislature further finds that investment grade corporate bonds are considered
to carry a relatively low credit risk.
�

Providing more investment securities for the director of finance to
consider and invest in will help increase investment earnings and make more
resources available for state programs and to pay down obligations.

����
Accordingly,
the purpose of this Act is to authorize the director of finance to invest
certain state moneys in short-term investment grade corporate bonds.

����
SECTION
2
.
�
Section 36-21, Hawaii Revised Statutes, is
amended by amending subsection (a) to read as follows:

����
"
(a)
�
The director of finance may invest any moneys
of the State which in the director's judgment are in excess of the amounts
necessary for meeting the immediate requirements of the State and where in the
director's judgment the action will not impede or hamper the necessary
financial operations of the State in:

����
(1)
�
Any bonds or
interest-bearing notes or obligations:

���������
(A)
�
Of the State
(including state director of finance's warrant notes issued pursuant to chapter
40);

���������
(B)
�
Of the United
States;

���������
(C)
�
For which the
faith and credit of the United States are pledged for the payment of principal
and interest;

����
(2)
�
Federal Farm
Credit System notes and bonds;

����
(3)
�
Federal
Agricultural Mortgage Corporation notes and bonds;

����
(4)
�
Federal Home Loan
Bank notes and bonds;

����
(5)
�
Federal Home Loan
Mortgage Corporation bonds;

����
(6)
�
Federal National
Mortgage Association notes and bonds;

����
(7)
�
Tennessee Valley Authority notes and bonds;

����
(8)
�
Securities of a mutual fund whose portfolio is
limited to bonds or securities issued or guaranteed by the United States or an
agency thereof or repurchase agreements fully collateralized by any such bonds
or securities;

����
(9)
�
Securities of a money market mutual fund that
is rated AAA, or its equivalent, by a nationally recognized rating agency or
whose portfolio consists of securities that are rated as first tier securities
by a nationally recognized statistical rating organization as provided in 17
Code of Federal Regulations section 270.2a-7;

���
(10)
�
Federally insured savings accounts;

���
(11)
�
Time certificates of deposit;

���
(12)
�
Certificates of deposit open account;

���
(13)
�
Repurchase agreements with federally insured
banks, savings and loan associations, and financial services loan companies;

���
(14)
�
Commercial paper with an A1/P1 or equivalent
rating by any national securities rating service; [
and
]

���
(15)
�
Bankers' acceptances with an A1/P1 or
equivalent rating by any national securities rating service;
and

���
(16)
�
Short-term investment grade corporate
bonds;

provided that for authorized investments with stated
maturity dates, the investment, as well as the underlying securities of those
investments, are due to mature not more than five years from the date of
investment.
�
Income derived from those
investments shall be a realization of the general fund; provided that income
earned from moneys invested by the general funds, special funds, bond funds,
and trust and agency funds on an investment pool basis shall be paid into and
credited to the respective funds based on the contribution of moneys into the
investment pool by each fund.
�
As used in
this section, "investment pool" means the aggregate of state treasury
moneys that are maintained in the custody of the director of finance for
investment and reinvestment without regard to fund designation."

����
SECTION 3.
�
Statutory material to be repealed is
bracketed and stricken.
�
New statutory
material is underscored.

����
SECTION 4.
�
This Act shall take effect upon its approval.

INTRODUCED BY:

_____________________________

Report Title:

Short-term
Investment Grade Corporate Bonds; Director of Finance; State Moneys

Description:

Authorizes
the Director of Finance to invest certain state moneys in short-term investment
grade corporate bonds.

The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.