STAND. COM. REP. NO. 794

                                 Honolulu, Hawaii
                                                   , 1999

                                 RE: H.B. No. 1037
                                     




Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twentieth State Legislature
Regular Session of 1999
State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No.
1037 entitled: 

     "A BILL FOR AN ACT MAKING AN EMERGENCY APPROPRIATION FOR THE
     UNCLAIMED PROPERTY PROGRAM,"

begs leave to report as follows:

     The purpose of this bill is to provide emergency funding to
satisfy all claims filed with the Unclaimed Property Program
during fiscal year 1999.

     Your Committee has received a message from the Governor,
dated February 9, 1999:

     (1)  Stating that additional funding is needed to increase
          the appropriation ceiling for claims payments in fiscal
          year 1999 for the Unclaimed Property Program; and

     (2)  Requesting immediate passage of this measure to return
          abandoned property to their rightful owners within 120
          days as required by section 523A-24, Hawaii Revised
          Statutes.

     The Department of Budget and Finance testified in support of
this measure.
     As affirmed by the record of votes of the members of your
Committee on Finance that is attached to this report, your
Committee is in accord with the intent and purpose of H.B. No.
1037 and recommends that it pass Third Reading.

 
 
                                 STAND. COM. REP. NO. 794
                                 Page 2

 
                                   Respectfully submitted on
                                   behalf of the members of the
                                   Committee on Finance,



                                   ______________________________
                                   DWIGHT Y. TAKAMINE, Chair