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 S.B. No. 1049, S.D. 1, entitled:

begs leave to report as follows:

The purpose of this bill is to repeal 15 Acts that were enacted between 1983 and 1991 without lapsing dates that authorized the issuance of special purpose revenue bonds (SPRBs) and for which no action has been taken for several years, resulting in $161,730,000 in authorized but unissued SPRBs.

The Department of Budget and Finance submitted testimony 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 S.B. No. 1049, S.D. 1, and recommends that it pass Second Reading and be placed on the calendar for Third Reading.