STAND. COM. REP. NO. 695-00

                                 Honolulu, Hawaii
                                                   , 2000

                                 RE: H.B. No. 2066
                                     H.D. 1




Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twentieth State Legislature
Regular Session of 2000
State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No.
2066 entitled: 

     "A BILL FOR AN ACT RELATING TO THE UNIVERSITY OF HAWAII
     FACILITIES USE REVOLVING FUND,"

begs leave to report as follows:

     The purpose of this bill is to enable the University of
Hawaii (UH) to expand and strengthen its revenue base by:

     (1)  Broadening the scope of the UH Facilities Use Revolving
          Fund (Revolving Fund) to include revenues collected
          from the sale or lease of UH real property; and

     (2)  Authorizing the transfer of any unexpended revenues
          from the Revolving Fund to other UH funds to be
          invested or expended for the general benefit of the
          University.

     The UH testified in support of this bill.

     Your Committee has amended this bill to correct technical
drafting errors.

     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.
2066, as amended herein, and recommends that it pass Third
Reading in the form attached hereto as H.B. No. 2066, H.D. 1.

 
 
                                 STAND. COM. REP. NO. 695-00
                                 Page 2

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



                                   ______________________________
                                   DWIGHT Y. TAKAMINE, Chair