STAND. COM. REP. NO. 2740

                                   Honolulu, Hawaii
                                                     , 2000

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

     "A BILL FOR AN ACT RELATING TO INSURANCE,"

begs leave to report as follows:

     The purpose of this bill is to require that an
administrative refund of any tax assessed under the state
insurance laws is paid out of the general fund.

     Your Committee finds that insurance premium taxes collected
by the State are deposited into the general fund.  Refunds of the
insurance premium tax, however, are paid out from the insurance
regulation fund.  This bill would ensure that the proper state
account - the general fund, is debited for refunds of the
insurance premium tax.

     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 S.B. No.
2731, S.D. 1, and recommends that it pass Third Reading.


 
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                                   STAND. COM. REP. NO. 2740
                                   Page 2


                                 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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