STAND. COM. REP. NO. 1218

                                 Honolulu, Hawaii
                                                   , 1999

                                 RE: S.B. No. 1184
                                     S.D. 1
                                     H.D. 1




Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twentieth State Legislature
Regular Session of 1999
State of Hawaii

Sir:

     Your Committee on Higher Education, to which was referred
S.B. No. 1184, S.D. 1, entitled: 

     "A BILL FOR AN ACT RELATING TO MANAGEMENT OF FINANCING
     AGREEMENTS FOR THE UNIVERSITY OF HAWAII,"

begs leave to report as follows:

     The purpose of this bill is to authorize the University of
Hawaii (UH) to transact financing agreements for principal
amounts not exceeding $3,000,000 without approval by the Director
of Finance and the Attorney General.

     UH testified in support of the bill.  UH also testified that
the companion bill, H.B. 250, H.D. 2, provides UH with more
flexibility by exempting UH not only in terms of entering into
certain financing agreements, but also with respect to the sale,
assignment, or other disposition of such financing agreements.

     The University of Hawaii Professional Assembly testified in
support of the intent of the bill.

     Your Committee has amended this bill by providing UH with
increased flexibility as suggested by UH.


 
 
 
 
 
 
                                 STAND. COM. REP. NO. 1218
                                 Page 2

 
     As affirmed by the record of votes of the members of your
Committee on Higher Education that is attached to this report,
your Committee is in accord with the intent and purpose of S.B.
No. 1184, S.D. 1, as amended herein, and recommends that it pass
Second Reading in the form attached hereto as S.B. No. 1184, S.D.
1, H.D. 1, and be referred to the Committee on Finance.

                                   Respectfully submitted on
                                   behalf of the members of the
                                   Committee on Higher Education,



                                   ______________________________
                                   DAVID MORIHARA, Chair