STAND. COM. REP. NO. 1131

Honolulu, Hawaii

, 2005

RE: H.B. No. 842

 

 

Honorable Robert Bunda

President of the Senate

Twenty-Third State Legislature

Regular Session of 2005

State of Hawaii

Sir:

Your Committee on Education and Military Affairs, to which was referred H.B. No. 842 entitled:

"A BILL FOR AN ACT AUTHORIZING THE ISSUANCE OF BONDS FOR EDUCATION PURPOSES,"

begs leave to report as follows:

The purpose of this measure is to authorize the issuance of bonds to subsidize school renovation, equipment acquisition, curriculum development, and teacher training in qualified zones and schools.

Testimony in support of the measure was submitted by the Department of Education. The Department of Budget and Finance submitted comments.

Your Committee finds that the Qualified Zone Academy Bond program (QZAB) is an initiative that the Department of Education has been pursuing as an opportunity for an additional source of funding for public education. Currently, there are approximately 185 Hawaii public schools that would be able to participate in QZAB. It is of high importance that the State review all alternative sources of funding, especially financing much needed improvements to the educational system.

As affirmed by the record of votes of the members of your Committee on Education and Military Affairs that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 842, and recommends that it pass Second Reading and be referred to the Committee on Ways and Means.

Respectfully submitted on behalf of the members of the Committee on Education and Military Affairs,

____________________________

NORMAN SAKAMOTO, Chair