STAND. COM. REP. NO. 2890

                                   Honolulu, Hawaii
                                                     , 2000

                                   RE:  H.B. No. 2457
                                        




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

Sir:

     Your Committee on Transportation and Intergovernmental
Affairs, to which was referred H.B. No. 2457 entitled: 

     "A BILL FOR AN ACT RELATING TO VETERANS LOANS,"

begs leave to report as follows:

     The purpose of the measure is to repeal the Veterans Loan
Program.

     Testimony in support of the measure was received from the
Department of Budget and Finance and Office of Veteran Services.

     Your Committee finds that this measure repeals a program
that previously involved the issuance of general obligation bonds
to purchase, service, and sell veterans' mortgages to encourage
the construction of veterans' housing.  The program is no longer
necessary as the bonds issued are fully matured and the last
monthly veterans' loan payment was collected in 1995.

     As affirmed by the record of votes of the members of your
Committee on Transportation and Intergovernmental Affairs that is
attached to this report, your Committee is in accord with the
intent and purpose of H.B. No. 2457 and recommends that it pass
Second Reading and be referred to the Committee on Ways and
Means.


 
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                                   STAND. COM. REP. NO. 2890
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                                   Respectfully submitted on
                                   behalf of the members of the
                                   Committee on Transportation
                                   and Intergovernmental Affairs,



                                   ______________________________
                                   CAL KAWAMOTO, Chair

 
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