STAND. COM. REP. NO. 2619

                                   Honolulu, Hawaii
                                                     , 2000

                                   RE:  S.B. No. 3043
                                        S.D. 2




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. 3043, S.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 authorize the state
Comptroller to establish a captive insurance company to insure
against the property and casualty losses of the State.

     This bill also authorizes the Comptroller to obtain
reinsurance for the captive insurance company.

     Your Committee finds that this measure will enable the
Comptroller to establish a captive insurance company in order to
minimize the State's insurance costs.

     Your Committee has amended this measure by deleting
amendments to repeal the Comptroller's authority to dissolve the
state risk management revolving fund.

     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.
3043, S.D. 1, as amended herein, and recommends that it pass

 
a                                                     SB3043 SD2
 
 
 
                                   STAND. COM. REP. NO. 2619
                                   Page 2


Third Reading in the form attached hereto as S.B. No. 3043, S.D.
2.

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



                                 ________________________________
                                 CAROL FUKUNAGA, Co-Chair



                                 ________________________________
                                 ANDREW LEVIN, Co-Chair

 
a                                                     SB3043 SD2