STAND. COM. REP. NO.677
Honolulu, Hawaii
, 2001
RE: H.B. No. 571
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-First State Legislature
Regular Session of 2001
State of Hawaii
Sir:
Your Committee on Finance, to which was referred H.B. No. 571 entitled:
"A BILL FOR AN ACT RELATING TO THE SHORT-TERM INVESTMENT OF STATE MONEYS,"
begs leave to report as follows:
The purpose of this bill is to:
(1) Clarify and make technical changes to the law regarding short-term investments of state moneys; and
(2) Provide two additional investment options for the state treasury that offer safety, liquidity, and an opportunity to increase the yield on investments: United States government-related mutual funds and money market mutual funds.
The Department of Budget and Finance testified in support of this measure.
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 H.B. No. 571 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 Finance,
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____________________________ DWIGHT Y. TAKAMINE, Chair |
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