Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-First State Legislature

Regular Session of 2001

State of Hawaii

Sir:

Your Committee on Higher Education, to which was referred H.B. No. 731 entitled:

begs leave to report as follows:

The purpose of this bill is to authorize the transfer of all University of Hawaii funds, with the exception of general funds, into the University of Hawaii Commercial Enterprises Revolving Fund to finance the establishment of new enterprises.

The University of Hawaii testified in support of this measure.

Your Committee finds the current language provides that only private funds may be deposited into the University of Hawaii Commercial Enterprises Revolving Fund. By amending this language the University would have more opportunities to generate revenues from the operation of commercial enterprises and increase its ability to develop alternative revenue sources.

As affirmed by the record of votes of the members of your Committee on Higher Education that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 731 and recommends that it pass Second Reading and be referred to the Committee on Finance.