STAND. COM. REP. NO. 1448-00

                                 Honolulu, Hawaii
                                                   , 2000

                                 RE: S.B. No. 2513
                                     S.D. 1
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 S.B. No.
2513, S.D. 1, H.D. 1, entitled: 

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

begs leave to report as follows:

     The purpose of this bill is to enhance private sector
participation in the protection and management of conservation
lands by allowing conveyance tax revenues deposited into the
Natural Area Reserve Fund to be used for watershed management
projects.

     The Nature Conservancy of Hawaii, the Department of Land and
Natural Resources supported this bill.  The Hawaii Chapter of the
Sierra Club and the Tax Foundation of Hawaii submitted comments. 
 
     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 S.B. No.
2513, S.D. 1, H.D. 1, and recommends that it pass Third Reading.


 
 
 
 
 
 
 
 
 
                                 STAND. COM. REP. NO. 1448-00
                                 Page 2

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



                                   ______________________________
                                   DWIGHT Y. TAKAMINE, Chair