Report Title:

Employees' Retirement System; Task Force

 

Description:

Creates a blue ribbon task force in the department of budget and finance to explore the feasibility of having the employees' retirement system purchase Ala Moana Center and the Ward Centers.

 


HOUSE OF REPRESENTATIVES

H.B. NO.

527

TWENTY-FIFTH LEGISLATURE, 2009

 

STATE OF HAWAII

 

 

 

 

 

 

A BILL FOR AN ACT


 

 

relating to the employees' retirement system.

 

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 


     SECTION 1.  (a)  There is established within the department of budget and finance for administrative purposes a blue ribbon employees' retirement system task force.  The task force shall investigate the advisability of having the employees' retirement system, or a consortium led by the employees' retirement system, enter into an agreement to purchase Ala Moana Center and the Ward Centers.

     (b)  The task force shall consist of the following members:

     (1)  The director of finance or the director's designee;

     (2)  The administrator of the employees' retirement system or the administrator's designee;

     (3)  The chairperson of the Hawaii community development authority or the chairperson's designee;

     (4)  The chairperson of the office of Hawaiian affairs or the chairperson's designee;

     (5)  The chairperson of General Growth Properties, Inc., or the chairperson's designee shall be invited to participate;

     (6)  The chairperson and chief executive officer of Alexander & Baldwin, Inc. shall be invited to participate; and

     (7)  Representatives from other organizations and entities deemed appropriate by the director of finance.

     (c)  The director of finance shall serve as chairperson of the task force.  A majority of members of the task force shall constitute a quorum to conduct business.  The concurrence of the majority of the members of the task force shall be necessary to make any action of the task force valid.

     (d)  The task force shall be exempt from chapter 92, Hawaii Revised Statutes; provided that the task force shall make a good faith effort to make its proceedings and work products accessible and available to the general public in a manner consistent with the intent of chapter 92, Hawaii Revised Statutes.

     (e)  Members of the task force shall serve without compensation and shall receive no reimbursement for expenses.

     (f)  The task force shall submit a report of its findings and recommendations, including any proposed legislation, to the legislature no later than twenty days prior to the convening of the regular session of 2010.

     (g)  The task force shall cease to exist on June 30, 2010.

     SECTION 2.  This Act shall take effect on July 1, 2009, and shall be repealed on June 30, 2010.

 

INTRODUCED BY:

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