STAND. COM. REP. NO. 880

                                 Honolulu, Hawaii
                                                   , 1999

                                 RE: H.B. No. 250
                                     H.D. 2




Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twentieth State Legislature
Regular Session of 1999
State of Hawaii

Sir:

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

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

begs leave to report as follows:

     The purpose of this bill is to allow the University of
Hawaii (UH) to secure equipment, goods, and services in a timely
manner by allowing the UH Board of Regents to enter into
financing agreements without the approval of the Director of
Finance and the Attorney General if the principal amount of the
financing agreement does not exceed $4,000,000.

     The UH testified in support of the intent of this measure.

     Your Committee has amended this bill by reducing the
threshold of the principal amount of the financing agreements to
$3,000,000 at or below which UH would be exempt from obtaining
approvals from the Director of Finance and the Attorney General
for its financing agreements.

     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.
250, H.D. 1, as amended herein, and recommends that it pass Third
Reading in the form attached hereto as H.B. No. 250, H.D. 2.


 
 
 
                                 STAND. COM. REP. NO. 880
                                 Page 2

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



                                   ______________________________
                                   DWIGHT Y. TAKAMINE, Chair