STAND. COM. REP. NO. 312

                                   Honolulu, Hawaii
                                                     , 1999

                                   RE:  S.B. No. 1126
                                        




Honorable Norman Mizuguchi
President of the Senate
Twentieth State Legislature
Regular Session of 1999
State of Hawaii

Sir:

     Your Committee on Commerce and Consumer Protection, to which
was referred S.B. No. 1126 entitled: 

     "A BILL FOR AN ACT RELATING TO HAWAII HURRICANE RELIEF FUND
     BONDS,"

begs leave to report as follows:

     The purpose of this measure is to extend authorization for
the issuance of general obligation bonds for the Hawaii Hurricane
Relief Fund (HHRF) to fiscal years 1999-2000 and 2000-2001.

     The executive director of the HHRF presented testimony in
support of this measure.

     The current authorization for general obligation bonds for
HHRF expires on June 30, 1999.  This measure ensures that the
HHRF has a funding source available and retains its tax exempt
status under the Internal Revenue Code.

     As affirmed by the record of votes of the members of your
Committee on Commerce and Consumer Protection that is attached to
this report, your Committee is in accord with the intent and
purpose of S.B. No. 1126 and recommends that it pass Second
Reading and be referred to the Committee on Ways and Means.


 
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                                   STAND. COM. REP. NO. 312
                                   Page 2


                                   Respectfully submitted on
                                   behalf of the members of the
                                   Committee on Commerce and
                                   Consumer Protection,



                                   ______________________________
                                   BRIAN KANNO, Co-Chair



                                   ______________________________
                                   BRIAN T. TANIGUCHI, Co-Chair

 
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