STAND. COM. REP. NO. 773-00

                                 Honolulu, Hawaii
                                                   , 2000

                                 RE: H.B. No. 755
                                     H.D. 2




Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twentieth State Legislature
Regular Session of 2000
State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No.
755, H.D. 1, entitled: 

     "A BILL FOR AN ACT RELATING TO PUBLIC LANDS,"

begs leave to report as follows:

     The purpose of this bill is to give more flexibility to
homestead lessees by:

     (1)  Allowing lenders to accept the leased property as
          security for loans by setting aside the succession
          provision of the lease for the duration of the loan;
          and

     (2)  Making the leases more freely available to members of
          the lessee's family.

     The Department of Land and Natural Resources and an
individual testified in support of this measure.  The Office of
Hawaiian Affairs testified in support of the intent of this
measure.

     Your Committee has amended this measure by making technical,
nonsubstantive amendments for purposes of clarity and style.

     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.

 
 
 
                                 STAND. COM. REP. NO. 773-00
                                 Page 2

 
755, H.D. 1, as amended herein, and recommends that it pass Third
Reading in the form attached hereto as H.B. No. 755, H.D. 2.

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



                                   ______________________________
                                   DWIGHT Y. TAKAMINE, Chair