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Senate committees advance HB 2438 to create Hawaii Cultural Trust account; legal question raised about trust beneficiaries
Summary
Joint Senate committees voted to pass HB 2438 HD3 (Hawaii Cultural Trust) with amendments after brief testimony and a legal question about whether the proposed trust meets HRS §37‑62 beneficiary criteria. Committees adopted the measure and recorded 'aye' votes from present members.
Senate clerks opened the March 25 joint hearing and identified HB 2438 HD3, a bill to create a trust related to the Hawaii Cultural Trust, as the first item on the 1:00 PM agenda. The Department of Taxation indicated it would stand on its written testimony.
An attendee raised a statutory concern, noting that "the new trust fund created by this bill does not seem to…
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