STAND. COM. REP. NO. 3343

                                   Honolulu, Hawaii
                                                     , 2000

                                   RE:  H.B. No. 2434
                                        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. 2434, H.D. 1, entitled: 

     "A BILL FOR AN ACT RELATING TO STATE FINANCES,"

begs leave to report as follows:

     The purpose of this bill is transfer $1 from the excess
retained earnings in the Hawaii Strategic Development Corporation
revolving fund to the general fund.

     Your Committee has amended this bill by:

     (1)  Deleting the provision to transfer $1 from the excess
          retained earnings in the Hawaii Strategic Development
          Corporation revolving fund to the general fund;

     (2)  Transferring unspecified sums from the excess retained
          earnings in the following special and revolving funds
          to the general fund:

          (A)  State risk management revolving fund, section
               41D-4, Hawaii Revised Statutes;

          (B)  Works of art special fund, section 103-8.5, Hawaii
               Revised Statutes;

 
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          (C)  Environmental response revolving fund, section
               128D-2, Hawaii Revised Statutes;

          (D)  Irrigation system revolving fund, section 167-22,
               Hawaii Revised Statutes;

          (E)  Industrial park special fund, section 171-138,
               Hawaii Revised Statutes;

          (F)  Wildlife revolving fund, section 183D-10.5, Hawaii
               Revised Statutes;

          (G)  Aina hoomalu special fund, section 184-32, Hawaii
               Revised Statutes;

          (H)  Forest stewardship fund, section 195F-4, Hawaii
               Revised Statutes;

          (I)  Housing finance revolving fund, section 201G-170,
               Hawaii Revised Statutes;

          (J)  Rental assistance revolving fund, section
               201G-223, Hawaii Revised Statutes;

          (K)  Housing alteration revolving loan fund, section
               201G-342, Hawaii Revised Statutes;

          (L)  Dwelling unit revolving fund, section 201G-411,
               Hawaii Revised Statutes;

          (M)  Homes revolving fund, section 201G-401, Hawaii
               Revised Statutes;

          (N)  Hawaii development revolving fund, section
               201G-421, Hawaii Revised Statutes;

          (O)  High technology special fund, section 206M-15.5,
               Hawaii Revised Statutes;

          (P)  Convention center capital and operations special
               fund, section 206X-10.5, Hawaii Revised Statutes;

          (Q)  Hawaii community-based economic development
               revolving fund, section 201D-4, Hawaii Revised
               Statutes;


 
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          (R)  Natural Energy Laboratory of Hawaii Authority
               special fund, section 227D-5, Hawaii Revised
               Statutes;

          (S)  Storeroom revolving fund, section 302A-1304,
               Hawaii Revised Statutes;

          (T)  Library special fund, section 304-8.93, Hawaii
               Revised Statutes;

          (U)  Conference center revolving fund, section
               304-8.94, Hawaii Revised Statutes;

          (V)  Hawaii opportunity program in education endowment
               special fund, section 304-8.95, Hawaii Revised
               Statutes;

          (W)  Housing assistance revolving fund, section
               304-8.96, Hawaii Revised Statutes;

          (X)  University of Hawaii alumni revolving fund,
               section 304-8.97, Hawaii Revised Statutes;

          (Y)  State aquarium special fund, section 304-33,
               Hawaii Revised Statutes;

          (Z)  Libraries special fund, section 312-3.6, Hawaii
               Revised Statutes;

         (AA)  Hawaii registered nurse student loan fund, section
               321-25, Hawaii Revised Statutes;

         (BB)  Facility administration fund, section 323-73,
               Hawaii Revised Statutes;

         (CC)  Mental health and substance abuse special fund,
               section 334-15, Hawaii Revised Statutes;

         (DD)  Water pollution control revolving fund, section
               342D-83, Hawaii Revised Statutes;

         (EE)  Correctional industries revolving fund, section
               354D-10, Hawaii Revised Statutes;

         (FF)  Special unemployment insurance administration
               fund, section 383-127, Hawaii Revised Statutes;

 
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         (GG)  Employment and training fund, section 383-128,
               Hawaii Revised Statutes;

         (HH)  Commissioner's education and training fund,
               section 431:2-214, Hawaii Revised Statutes;

         (II)  Special drivers education fund account, section
               431:10C-115, Hawaii Revised Statutes;

         (JJ)  Condominium management education fund, section
               514A-131, Hawaii Revised Statutes;

         (KK)  Supreme Court law library revolving fund, section
               601-3.5, Hawaii Revised Statutes;

         (LL)  Criminal forfeiture fund created by section
               712A-16, Hawaii Revised Statutes;

         (MM)  State educational facilities improvement special
               fund, section 36-32, Hawaii Revised Statutes; and

         (NN)  Irrigation system revolving fund, section 167-22,
               Hawaii Revised Statutes;

     (3)  Allowing the Governor to modify the strict provisions
          of this bill so as not to jeopardize the receipt of any
          federal aid nor to impair the obligation of the State
          or any agency thereof to the holders of any bond issued
          by the State or any such agency; and

     (4)  Making the provisions of this bill severable.

     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.
2434, H.D. 1, as amended herein, and recommends that it pass
Second Reading in the form attached hereto as H.B. No. 2434, H.D.
1, S.D. 1, and be placed on the calendar for Third Reading.


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



                                 ________________________________
                                 CAROL FUKUNAGA, Co-Chair



                                 ________________________________
                                 ANDREW LEVIN, Co-Chair

 
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