STAND. COM. REP. NO. 758-00

                                 Honolulu, Hawaii
                                                   , 2000

                                 RE: H.B. No. 2986
                                     H.D. 2




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.
2986, H.D. 1, entitled: 

     "A BILL FOR AN ACT RELATING TO THE STATE RISK MANAGEMENT AND
     INSURANCE ADMINISTRATION,"

begs leave to report as follows:

     The purpose of this bill is to grant the Comptroller
authority to establish a captive insurance company, which will be
owned by the State, to insure the general liabilities of state
agencies pursuant to chapter 41D, Hawaii Revised Statutes, the
State Risk Management and Insurance Administration Law.

     The Department of Accounting and General Services testified
in support of the intent of this measure.  The Department of
Commerce and Consumer Affairs submitted comments on this measure.

     Your Committee has amended this bill by making technical,
nonsubstantive amendments for clarity and style.

     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.
2986, H.D. 1, as amended herein, and recommends that it pass
Third Reading in the form attached hereto as H.B. No. 2986, H.D.
2.


 
 
 
 
                                 STAND. COM. REP. NO. 758-00
                                 Page 2

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



                                   ______________________________
                                   DWIGHT Y. TAKAMINE, Chair