STAND. COM. REP. NO. 1379-00

                                 Honolulu, Hawaii
                                                   , 2000

                                 RE: S.B. No. 2731
                                     S.D. 1
                                     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 S.B. No.
2731, S.D. 1, H.D. 1, entitled: 

     "A BILL FOR AN ACT RELATING TO INSURANCE,"

begs leave to report as follows:

     The purpose of this bill is to specify that insurance
premium tax refunds be paid out of the general fund rather than
out of insurance regulation funds.

     The Department of Commerce and Consumer Affairs testified in
support of the intent of the measure.  The Tax Foundation of
Hawaii submitted comments on the measure.

     Your Committee has amended the bill by making technical,
nonsubstantive amendments to correct drafting errors.

     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.
2731, S.D. 1, H.D. 1, as amended herein, and recommends that it
pass Third Reading in the form attached hereto as S.B. No. 2731,
S.D. 1, H.D. 2.


 
 
 
 
 
 
                                 STAND. COM. REP. NO. 1379-00
                                 Page 2

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



                                   ______________________________
                                   DWIGHT Y. TAKAMINE, Chair