STAND. COM. REP. NO.835

Honolulu, Hawaii

, 2003

RE: S.B. No. 420

S.D. 1

 

 

Honorable Robert Bunda

President of the Senate

Twenty-Second State Legislature

Regular Session of 2003

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred S.B. No. 420 entitled:

"A BILL FOR AN ACT RELATING TO STATE FINANCES,"

begs leave to report as follows:

The purpose of this measure is to abolish special funds with exceptions.

Your Committee finds that this measure will result in the cessation or severe curtailment of several important state programs, unless the budgeting shortfalls are covered by general funds. The measure will also adversely impact priorities indicated by the executive Biennium budget.

Your Committee has amended this measure by deleting its contents and replacing it with most of the contents of S.B. No. 1305, relating to state funds, and all the contents of both S.B. No. 1257, relating to the irrigation water development special fund, and S.B. No. 1283, relating to the housing and community development corporation of Hawaii.

As amended, the purpose of this measure is to repeal certain revolving and special funds that no longer serve the purpose for which they were originally established, are not an appropriate means of financing for the programs or activities, or are not financially self-sustaining. Furthermore, this measure transfers the excess balances from these special and revolving funds to the general fund.

As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 420, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 420, S.D. 1, and be placed on the calendar for Third Reading.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

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BRIAN T. TANIGUCHI, Chair