STAND. COM. REP. NO. 2226

                                   Honolulu, Hawaii
                                                     , 2000

                                   RE:  S.B. No. 2942
                                        




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. 2942 entitled: 

     "A BILL FOR AN ACT RELATING TO THE GENERAL FUND EXPENDITURE
     CEILING REPORTING DATES,"

begs leave to report as follows:

     The purpose of this measure is to change the dates on which
the Council on Revenues must report its estimates of total state
personal income to the Director of Finance, the Governor, the
Chief Justice, and the Legislature from July 20 and October 20,
to August 5 and November 5, respectively.  This measure also
makes corresponding changes to the dates on which the Director of
Finance must determine estimates of the state growth and
expenditure ceiling from August 1 and November 1, to August 15
and November 15, respectively.

     Testimony in support of this bill was received from the
Department of Taxation, and the Council on Revenues.  Comments
were received from the Tax Foundation of Hawaii.

     Your Committee finds that changing the reporting dates of
the Council on Revenues for total state personal income will
accommodate the estimates of the United States Bureau of Economic
Analysis which would result in more accurate estimates of total
state personal income and the state growth and expenditure
ceiling.


 
a                                                     SB2942
 
                                   STAND. COM. REP. NO. 2226
                                   Page 2


     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. 2942 and recommends that it pass Second Reading and be placed
on the calendar for Third Reading.

                                 Respectfully submitted on behalf
                                 of the members of the Committee
                                 on Ways and Means,



                                 ________________________________
                                 CAROL FUKUNAGA, Co-Chair



                                 ________________________________
                                 ANDREW LEVIN, Co-Chair

 
a                                                     SB2942