REQUESTING THE DEPARTMENT OF BUDGET AND FINANCE TO CONDUCT A STUDY ON THE FEASIBILITY AND BENEFITS OF CREATING A STATE-OWNED SOVEREIGN WEALTH FUND.

SR33

THE SENATE

S.R. NO.

33

THIRTY-THIRD LEGISLATURE, 2026

STATE OF HAWAII

SENATE RESOLUTION

requesting the department of budget and finance to
conduct a study on the feasibility and benefits of creating a state-owned
sovereign wealth fund
.

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WHEREAS, a
sovereign wealth fund is a state-owned investment fund that holds and invests
the state's assets to generate financial returns for the long-term benefit of
the state's citizens; and

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WHEREAS, sovereign
wealth funds are typically established outside of the state budget and managed
with a long-term investment horizon, allowing governments to strengthen fiscal
stability, support economic development, and preserve wealth for future
generations; and

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WHEREAS, sovereign
wealth funds are used globally as tools for economic development and
intergenerational equity that are at times used to support domestic
infrastructure and invest in strategic sectors while ensuring that revenues
from limited or extraordinary sources such as natural resources, budget
surpluses, or legal settlements are saved and invested prudently; and

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WHEREAS, globally,
more than ninety countries and certain regional governments, including U.S.
states, operate sovereign wealth funds as instruments for long-term economic
stability and public benefit; and

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WHEREAS, establishing
a sovereign wealth fund for the State would provide a mechanism to invest a
portion of revenues from tourism, budget surpluses, legal settlements, and
other sources for the long-term benefit of residents of the State; and

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WHEREAS, distributing
a portion of investment earnings to qualified residents as cash dividends may
help families experience a direct economic benefit from the tourism industry
and assist with the cost of essential household need; and

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WHEREAS, direct
payments to qualified residents from investment earnings could assist with the
high cost of living in the State while ensuring that future generations share
in the benefits of prudent fiscal management; now, therefore,

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BE IT
RESOLVED by the Senate of the Thirty-third Legislature of the State of Hawaii,
Regular Session of 2026, that the Department of Budget and Finance is requested
to conduct a study on the feasibility and benefits of creating a state-owned
sovereign wealth fund; and

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BE IT FURTHER
RESOLVED that the Department of Budget and Finance is requested to submit a
report of its findings and recommendations, including any proposed legislation,
to the Legislature no later than twenty days prior to the convening of the
Regular Session of 2027; and

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BE IT FURTHER
RESOLVED that a certified copy of this Resolution be transmitted to the
Director of Finance.

OFFERED BY:

_____________________________

Report Title:
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B&F;
Sovereign Wealth-Fund; Study