STAND. COM. REP. NO. 753-00

                                 Honolulu, Hawaii
                                                   , 2000

                                 RE: H.B. No. 2836
                                     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.
2836 entitled: 

     "A BILL FOR AN ACT RELATING TO CONVEYANCE TAX,"

begs leave to report as follows:

     The purpose of this bill is to enable that portion of the
conveyance tax revenues that are deposited into the Natural Area
Reserve Fund to fund watershed management projects.

     The Department of Land and Natural Resources, the Land Use
Research Foundation of Hawaii, the Board of Water Supply of the
City & County of Honolulu, and the Nature Conservancy of Hawaii
testified in support of this bill.  The Hawaii Chapter of the
Sierra Club supported the intent of this bill.

     Your Committee has amended this bill by: 

     (1)  Changing the effective date of this bill to July 1,
          2000; provided that the amendments made to section 247-
          7, Hawaii Revised Statutes, shall be retained when that
          section is replaced on July 1, 2001, pursuant to
          section 6 of Act 170, Session Laws of Hawaii 1998, as
          amended by section 2 of Act 133, Session Laws of Hawaii
          1999; and

     (2)  Making technical, nonsubstantive changes for purposes
          of clarity, consistency, and style.


 
 
                                 STAND. COM. REP. NO. 753-00
                                 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.
2836, as amended herein, and recommends that it pass Third
Reading in the form attached hereto as H.B. No. 2836, H.D. 1.

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



                                   ______________________________
                                   DWIGHT Y. TAKAMINE, Chair