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. 730 entitled:

begs leave to report as follows:

The purpose of this bill is to provide the University of Hawaii (UH) with the flexibility to allocate portions of the indirect overhead revenues generated from UH research and training programs according to changing program needs rather than fixed statutory percentages. This measure replaces the fixed percentages specified by statute and replaces these with unspecified amounts to be determined by the Board of Regents.

Testimony in support of the intent of this measure was submitted by the University of Hawaii.

Your Committee has made technical, nonsubstantive amendments to this bill for purposes of clarity, consistency, 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. 730, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 730, H.D. 1.