STAND. COM. REP. NO.744
Honolulu, Hawaii
, 2001
RE: H.B. No. 575
H.D. 2
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. 575, H.D. 1, entitled:
"A BILL FOR AN ACT PROPOSING AMENDMENTS TO ARTICLE VII OF THE HAWAII CONSTITUTION REGARDING AN EMERGENCY AND BUDGET RESERVE FUND,"
begs leave to report as follows:
The purpose of this bill is to require, by constitutional provision, the establishment of an Emergency and Budget Reserve Fund (Fund). Additionally, this bill:
(1) Authorizes expenditures from the Fund pursuant to the enactment of legislation approved at Final Reading by a two-thirds vote in each house of the Legislature;
(2) Clarifies that appropriations to the Fund do not apply to the general fund expenditure ceiling; and
(3) Provides that appropriations from the Fund apply to the general fund expenditure ceiling.
The Department of Budget and Finance testified in support of this measure. The Tax Foundation of Hawaii submitted comments.
Your Committee has amended this bill by making technical, nonsubstantive amendments for purposes of clarity and style.
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. 575, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 575, H.D. 2.
Respectfully submitted on behalf of the members of the Committee on Finance,
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____________________________ DWIGHT Y. TAKAMINE, Chair |
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