STAND. COM. REP. NO.  941

 

Honolulu, Hawaii

                , 2009

 

RE:   H.B. No. 899

      H.D. 1

 

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fifth State Legislature

Regular Session of 2009

State of Hawaii

 

Sir:

 

     Your Committee on Finance, to which was referred H.B. No. 899 entitled:

 

"A BILL FOR AN ACT RELATING TO THE OFFICE OF HAWAIIAN AFFAIRS,"

 

begs leave to report as follows:

 

     The purpose of this bill is to clarify and strengthen the authority of the Office of Hawaiian Affairs (OHA) to issue revenue bonds to obtain funding for its projects by amending the bond provisions of Chapter 10, Hawaii Revised Statutes, to reflect current government bond practices and provide increased autonomy for OHA in issuing bonds.

 

     OHA and a concerned individual testified in support of this bill.  The Department of the Attorney General commented on this measure.

 

     Your Committee has amended this bill by:

 

(1)  Changing its effective date to July 1, 2020, to encourage further discussion; and

 

(2)  Making technical, nonsubstantive amendments for 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. 899, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 899, H.D. 1.

 

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

 

 

 

 

____________________________

MARCUS R. OSHIRO, Chair