STAND. COM. REP. NO. 1501

Honolulu, Hawaii

, 2005

RE: H.B. No. 842

S.D. 1

 

 

Honorable Robert Bunda

President of the Senate

Twenty-Third State Legislature

Regular Session of 2005

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred H.B. No. 842 entitled:

"A BILL FOR AN ACT AUTHORIZING THE ISSUANCE OF BONDS FOR EDUCATION PURPOSES,"

begs leave to report as follows:

The purpose of this measure is to authorize the Director of Finance to issue bonds for the Department of Education to expend on subsidizing school renovation, equipment acquisition, curriculum development, and teacher training in qualified zones and schools.

Your Committee finds that the federal qualified zone academy bond program was established by Congress to help educators, employers, and the community to work together to ensure that students in economically depressed areas will have the proper degree of preparation to compete in the global economy.

Your Committee finds that time is of the essence regarding the passage of this measure. Unless it is extended, the federal qualified zone academy bond program is scheduled to sunset on December 31, 2005.

Your Committee has amended this measure by specifying $1 as the amount of bonds that the Director of Finance is authorized to issue, in order to promote continued discussion of the matter.

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 H.B. No. 842, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 842, S.D. 1.

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

____________________________

BRIAN T. TANIGUCHI, Chair