Haw. Code R. § 13-109-10 - Penalty payback provisions

(a) Failure by the applicant to comply with the agreement terms may result in the cancellation of the agreement by the board.

(b) In the event that the agreement is cancelled, the applicant shall promptly pay the State the following payback and penalty moneys:

(1) If cancelled in the first three years following the initial date of the agreement, the applicant shall pay back all matching funds to the State;

(2) If cancelled after the first three years following the initial date of the agreement, the applicant shall pay back matching funds received for the immediately preceding three years to the State; and

(3) A penalty provision consisting of an interest payment as determined in the agreement between the board and applicant shall be added to the payment due to the State.

Notes

Haw. Code R. § 13-109-10

[Eff. JAN 08 1999] (Auth: HRS § 195F-8) (Imp: HRS § 195F-7) Am and comp 1/9/2025 Am and comp 1/9/2025