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 S.B. No. 1049 entitled:

begs leave to report as follows:

The purpose of this measure is to repeal sixteen Acts, enacted between 1983 and 1991 without lapsing dates, representing $161,730,000 in authorized but unissued special purpose revenue bonds.

Your Committee finds that the Department of Budget and Finance has not received any indication from any of the parties of the status of these special purpose revenue bond authorizations in at least eight years and, in some cases, in as many as seventeen years.

Your Committee received testimony in support of this measure from the Department of Budget and Finance.

Your Committee has amended this measure by clarifying that Act 300, Session Laws of Hawaii 1983, was amended by Act 141, Session Laws of Hawaii 1984; and that Act 142, Session Laws of Hawaii 1988, was amended by Act 282, Session Laws of Hawaii 1989.

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 S.B. No. 1049, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 1049, S.D. 1, and be placed on the calendar for Third Reading.