STAND. COM. REP. NO.  1143

 

Honolulu, Hawaii

                , 2007

 

RE:   H.B. No. 34

 

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fourth State Legislature

Regular Session of 2007

State of Hawaii

 

Sir:

 

     Your Committee on Finance, to which was referred H.B. No. 34 entitled:

 

"A BILL FOR AN ACT RELATING TO THE EMPLOYEES' RETIREMENT SYSTEM,"

 

begs leave to report as follows:

 

     The purpose of this bill is to express Hawaii's opposition to the humanitarian crisis presently occurring in the Darfur Region of Sudan by prohibiting the Employees' Retirement System (ERS) from investing in securities of companies that have active business operations with Sudan.

 

     The Lieutenant Governor, Department of Business, Economic Development, and Tourism, Hawaii Family Forum, Roman Catholic Church in Hawaii, Hawaii Catholic Conference, Hawaii Coalition for Darfur, Hawaii Committee for Africa, Sudan Divestment Task Force, Calvary Chapel Central Oahu, The League of Women Voters of Hawaii, University of Hawaii Professional Assembly, Hawaii Reserves, Inc., Japanese American Citizens League-Honolulu Chapter, Americans for Democratic Action-Hawaii Chapter, and numerous individuals testified in support of this bill.  The ERS opposed 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. 34 and recommends that it pass Third Reading.

 

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

 

 

 

 

____________________________

MARCUS R. OSHIRO, Chair