STAND. COM. REP. NO.  840

 

Honolulu, Hawaii

                , 2015

 

RE:   H.B. No. 1186

      H.D. 2

 

 

 

 

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Eighth State Legislature

Regular Session of 2015

State of Hawaii

 

Sir:

 

     Your Committee on Finance, to which was referred H.B. No. 1186, H.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO GENERAL OBLIGATION BONDS,"

 

begs leave to report as follows:

 

     The purpose of this measure is to allow premiums received from the sale of any general obligation bonds to be used for capital expenditures approved by the Legislature in addition to being deposited into the general fund.

 

     The Department of Budget and Finance testified in support of this measure.

 

     Your Committee has amended this measure by:

 

     (1)  Changing its effective date to July 1, 2030, to encourage further discussion; and

 

     (2)  Making technical, nonsubstantive amendments for the purposes of clarity, consistency, 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. 1186, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 1186, H.D. 2.

 

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

 

 

 

 

____________________________

SYLVIA LUKE, Chair