STAND. COM. REP. NO. 767-00

                                 Honolulu, Hawaii
                                                   , 2000

                                 RE: H.B. No. 2143
                                     H.D. 2




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.
2143, H.D. 1, entitled: 

     "A BILL FOR AN ACT RELATING TO THE UNIFORM PRINCIPAL AND
     INCOME ACT,"

begs leave to report as follows:

     The purpose of this bill is to revise and update the Uniform
Principal and Income Act by:

     (1)  Establishing a new Uniform Principal and Income Act
          under a new chapter; and

     (2)  Repealing the Revised Uniform Principal and Income Act
          under chapter 557, Hawaii Revised Statutes.

     The Hawaii Society of Certified Public Accountants, Pacific
Century Trust, a division of Bank of Hawaii and Central Pacific
Bank, Hawaii's Commission to Promote Uniform Legislation, and the
Hawaii Bankers Association testified in support of this measure.

     Your Committee has amended this bill by 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.
2143, H.D. 1, as amended herein, and recommends that it pass

 
 
 
                                 STAND. COM. REP. NO. 767-00
                                 Page 2

 
Third Reading in the form attached hereto as H.B. No. 2143, H.D.
2.

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



                                   ______________________________
                                   DWIGHT Y. TAKAMINE, Chair