CONFERENCE COMMITTEE REP. NO. 37

 

Honolulu, Hawaii

                 , 2007

 

RE:    S.B. No. 1154

       S.D. 2

       H.D. 2

       C.D. 1

 

 

 

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fourth State Legislature

Regular Session of 2007

State of Hawaii

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fourth State Legislature

Regular Session of 2007

State of Hawaii

 

Madam and Sir:

 

     Your Committee on Conference on the disagreeing vote of the Senate to the amendments proposed by the House of Representatives in S.B. No. 1154, S.D. 2, H.D. 2, entitled:

 

"A BILL FOR AN ACT RELATING TO THE UNIVERSITY OF HAWAII,"

 

having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.

 

     The purpose of this measure is to provide flexibility to the Board of Regents of the University of Hawaii in the financing and administration of capital projects within the jurisdiction of the University.

 

     Your Committee on Conference finds that pursuant to Act 115, Session Laws of Hawaii 1998, the University of Hawaii was granted greater flexibility in managing its resources.  Since that time, the University of Hawaii has gained increased autonomy over its operations and administration and established itself as an entity that is highly capable of handling a vast array of responsibilities, including financial strategy.  This measure provides the University of Hawaii with increased financial autonomy through the authority to issue revenue bonds for university capital projects, subject to approval by the Governor.  This authority will aid the University of Hawaii in ensuring that it remains a premiere institution of higher learning that will rival the elite universities of this nation and in continuing to provide safe and modern facilities for its students.

 

     Upon further review, your Committee on Conference has amended this measure by:

 

     (1)  Including a $100 million limit on the total principal amount of revenue bonds that may be issued by the Board of Regents;

 

     (2)  Including an appropriation of $100 million from the revenue bond proceeds authorized for university projects;

 

     (3)  Changing the effective date to July 1, 2007; and

 

     (4)  Making technical, nonsubstantive changes for purposes of clarity and style.

 

     As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of S.B. No. 1154, S.D. 2, H.D. 2, as amended herein, and recommends that it pass Final Reading in the form attached hereto as S.B. No. 1154, S.D. 2, H.D. 2, C.D. 1.

 

Respectfully submitted on behalf of the managers:

 

ON THE PART OF THE HOUSE

 

ON THE PART OF THE SENATE

 

____________________________

JERRY L. CHANG, Co-Chair

 

____________________________

NORMAN SAKAMOTO, Chair

____________________________

JAMES KUNANE TOKIOKA, Co-Chair

 

____________________________

ROSALYN H. BAKER, Co-Chair