STAND. COM. REP. NO. 3250

                                   Honolulu, Hawaii
                                                     , 2000

                                   RE:  H.B. No. 2218
                                        H.D. 1
                                        S.D. 1




Honorable Norman Mizuguchi
President of the Senate
Twentieth State Legislature
Regular Session of 2000
State of Hawaii

Sir:

     Your Committee on Ways and Means, to which was referred H.B.
No. 2218, H.D. 1, entitled: 

     "A BILL FOR AN ACT RELATING TO INSURANCE,"

begs leave to report as follows:

     The purpose of this bill is to require the Insurance
Commissioner to use ten per cent of all revenues of the captive
insurance administrative fund from the prior fiscal year to
promote Hawaii as a domicile for captive insurance companies.

     Specifically, the bill requires the Commissioner to transfer
ten per cent of the prior fiscal year's revenues from the captive
insurance administrative fund to the insurance regulation fund.

     Your Committee has amended this measure by requiring the
Commissioner to transfer up to ten per cent of those revenues,
instead of requiring the full ten per cent.

     Your Committee believes that this clarification of the
language is necessary to allow the Commissioner to respond to
promotional needs in an appropriate manner.

     As affirmed by the record of votes of the members of your
Committee on Ways and Means that is attached to this report, your
Committee is in accord with the intent and purpose of H.B. No.

 
a                                                     HB2218 SD1
 
 
                                   STAND. COM. REP. NO. 3250
                                   Page 2


2218, H.D. 1, as amended herein, and recommends that it pass
Third Reading in the form attached hereto as H.B. No. 2218, H.D.
1, S.D. 1.

                                 Respectfully submitted on behalf
                                 of the members of the Committee
                                 on Ways and Means,



                                 ________________________________
                                 CAROL FUKUNAGA, Co-Chair



                                 ________________________________
                                 ANDREW LEVIN, Co-Chair

 
a                                                     HB2218 SD1