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. 670, H.D. 1, entitled:

begs leave to report as follows:

The purpose of this bill is to enable the State to receive additional federal funds for federal fiscal years ending in 2000, 2001, and 2002, under the Balanced Budget Act of 1997, by conforming Hawaii's statutory provisions with applicable federal statutes for the administration of the State's unemployment insurance program. These funds are distributed to states whenever the federal Unemployment Trust Fund accounts exceed their statutory ceilings.

The Department of Labor and Industrial Relations testified in support of this bill.

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. 670, H.D. 1, and recommends that it pass Third Reading.