04-30-2021, 04:32 PM
(This post was last modified: 04-30-2021, 04:33 PM by leilanidude.)
Legislators approve measure to repeal tobacco prevention and control trust fund...
Basically, the Democrats are attempting to divert (steal) money that was expressly designed for a specific purpose into the general fund so they can use it any way they want. Of special note in the article is how carefully the fund administered the 12.5% of the annual monies it received from the settlement. They carefully invested and mad their fund even more money, which the legislators now want to grab. Also note that the state was already grabbing the other 87.5% of the annual money.
Snipped from the article:
"The trust fund receives annually a portion of the state’s tobacco settlement special fund and, as its name suggests, is used for tobacco prevention and control efforts. Funds have been administered by the Hawaii Community Foundation since 2000.
Currently, the trust fund receives 12.5% of the tobacco settlement money Hawaii gets each year. In 2020 that amounted to $4.76 million.
HB 1296, however, will stop that allocation and calls for unencumbered trust fund balances to be transferred to the state general fund on June 30, 2025."
https://www.hawaiitribune-herald.com/202...rust-fund/
Basically, the Democrats are attempting to divert (steal) money that was expressly designed for a specific purpose into the general fund so they can use it any way they want. Of special note in the article is how carefully the fund administered the 12.5% of the annual monies it received from the settlement. They carefully invested and mad their fund even more money, which the legislators now want to grab. Also note that the state was already grabbing the other 87.5% of the annual money.
Snipped from the article:
"The trust fund receives annually a portion of the state’s tobacco settlement special fund and, as its name suggests, is used for tobacco prevention and control efforts. Funds have been administered by the Hawaii Community Foundation since 2000.
Currently, the trust fund receives 12.5% of the tobacco settlement money Hawaii gets each year. In 2020 that amounted to $4.76 million.
HB 1296, however, will stop that allocation and calls for unencumbered trust fund balances to be transferred to the state general fund on June 30, 2025."
https://www.hawaiitribune-herald.com/202...rust-fund/