STAND. COM. REP. NO. 3243

                                   Honolulu, Hawaii
                                                     , 2000

                                   RE:  H.B. No. 2573
                                        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. 2573, H.D. 1, S.D. 1, entitled: 

     "A BILL FOR AN ACT RELATING TO THE SPECIAL FUNDS OF THE LAND
     DIVISION,"

begs leave to report as follows:

     The purpose of this measure is to authorize the deposit of
all moneys collected from lessees of public lands in industrial
parks as well as administrative charges collected under chapter
183C, Hawaii Revised Statutes, into the special land and
development fund and to authorize additional uses for the fund.

     Specifically, the bill authorizes use of special land and
development fund moneys to establish debt service and pay debt
service on revenue bonds issued by the Department of Land and
Natural Resources and to reimburse the general fund for debt
service on general obligations bonds issued for certain
Department of Land and Natural Resources projects.  The measure
also repeals the industrial park special fund, transfers the fund
balance into the special land and development fund, and
appropriates funds from the special land and development fund to
carry out the special land and development fund's purposes.


 
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                                   STAND. COM. REP. NO. 3243
                                   Page 2


     Your Committee finds that consolidation of the special funds
will provide more efficient fiscal management and result in
savings for the Department of Land and Natural Resources.

     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.
2573, H.D. 1, S.D. 1, and recommends that it pass Third Reading.

                                 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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