STAND. COM. REP. NO. 707-00

                                 Honolulu, Hawaii
                                                   , 2000

                                 RE: H.B. No. 2444
                                     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.
2444 entitled: 

     "A BILL FOR AN ACT RELATING TO UNCLAIMED PROPERTY,"

begs leave to report as follows:

     The purpose of this bill is to expedite the return of
unclaimed abandoned property to claimants by establishing the
Unclaimed Property Trust Fund into which the Director of Finance
(Director) may pay claims for the return of abandoned property to
their owners and to unclaimed property programs in other states.

     The Department of Budget and Finance testified in support of
this measure.

     Your Committee has amended this bill by:

     (1)  Changing the trust fund to a special fund, and making
          corresponding reference changes from "trust fund" to
          "special fund";

     (2)  Changing the effective date to July 1, 2000; and

     (3)  Making technical, nonsubstantive amendments for clarity
          and style.


 
 
 
 
 
                                 STAND. COM. REP. NO. 707-00
                                 Page 2

 
     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.
2444, as amended herein, and recommends that it pass Third
Reading in the form attached hereto as H.B. No. 2444, H.D. 1.

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



                                   ______________________________
                                   DWIGHT Y. TAKAMINE, Chair