§209-34  State disaster revolving loan fund. 
(a)  There is established the state disaster revolving loan fund into which
shall be deposited all moneys appropriated by the legislature to the fund,
contributed or transferred to the fund, and received as repayment of loans and
interest payments as provided in this part, and from which the director of
business, economic development, and tourism may make loans in accordance with
this part.



(b)  The director may transfer moneys from the
state disaster revolving loan fund established by this section to either the
Hawaii capital loan revolving fund established by section 210-3 or the Hawaii
innovation development fund established by section 211E-2.  Moneys from the
Hawaii capital loan revolving fund established by section 210-3, the Hawaii
innovation development loan revolving fund established by section 211E-2, and
the state disaster revolving loan fund shall be disbursed by the department or
the director pursuant to chapters 209, 210, and 211E, respectively.  The
department or the director may transfer moneys from the Hawaii capital loan
revolving fund and the Hawaii innovation development fund to the state disaster
revolving loan fund for disbursement pursuant to this chapter.



(c)  The total amount of moneys transferred to
the state disaster revolving loan fund, the Hawaii capital loan revolving fund,
or the Hawaii innovation development fund shall not exceed $1,000,000 for each
respective fund within the calendar year.



(d)  Notwithstanding subsection (c) to the
contrary, the total amount of moneys transferred between the state disaster
revolving loan fund and the Hawaii capital loan revolving fund or the Hawaii
innovation development fund shall not exceed $1,000,000 within the calendar
year if the governor proclaims a state disaster pursuant to section 209-2.



(e)  The director shall report any transfer of
funds made under this section to the legislature within ten days of the
transfer.



(f)  All unexpended and unencumbered moneys
remaining in the state disaster revolving loan fund at the close of each fiscal
year, which are deemed by the director of finance to be in excess of the moneys
necessary to carry out the purposes of this section over the next following
fiscal year, shall lapse to the credit of the general fund. [L 1976, c 205,
§1(2); am L 1987, c 336, §7; am L 1990, c 293, §8; am L 1993, c 280, §22; am L
1996, c 143, §2]