STAND. COM. REP. NO. 2855

Honolulu, Hawaii

RE: S.B. No. 2640

S.D. 1

 

 

Honorable Robert Bunda

President of the Senate

Twenty-Third State Legislature

Regular Session of 2006

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred S.B. No. 2640 entitled:

"A BILL FOR AN ACT RELATING TO VOLUNTARY EMPLOYEES' BENEFICIARY ASSOCIATION TRUSTS,"

begs leave to report as follows:

The purpose of this measure is to clarify the previously stated legislative intent of authorizing voluntary employees' beneficiary association trusts.

Specifically, this measure clarifies that the trusts may be established by any employee organization for the benefit of all employees represented by that employee organization, not just employees in one single particular bargaining unit of that employee organization.

Your Committee finds that this measure is necessary to clarify that a single trust may be established by an employee organization for all of its bargaining units. Without such clarifying language, an employee organization with multiple bargaining units might be led to infer that the law requires it to establish separate trusts for each of its bargaining units.

Your Committee has amended this measure by making technical nonsubstantive amendments for the purposes of clarity and style.

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. 2640, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2640, S.D. 1.

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

____________________________

BRIAN T. TANIGUCHI, Chair