Honorable Robert Bunda

President of the Senate

Twenty-First State Legislature

Regular Session of 2001

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred H.B. No. 735, S.D. 1, entitled:

begs leave to report as follows:

The purpose of this measure is to change the annual reporting requirements of the Research Corporation of the University of Hawaii to include the Corporation's audited financial statement and total amount of payroll and other disbursements.

Your Committee finds that present law requires the Corporation's annual report to include the total number of gifts received, payroll disbursements, research or other equipment purchased exceeding $4,000, and contracts entered into.

Your Committee finds that this measure will result in more meaningful and relevant information in the Corporation's annual report.

As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 735, S.D. 1, and recommends that it pass Third Reading.