STAND. COM. REP. NO.1404
Honolulu, Hawaii
, 2001
RE: S.B. No. 1315
S.D. 2
H.D. 2
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. 1315, S.D. 2, H.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO EDUCATION,"
begs leave to report as follows:
The purpose of this bill is to enable the Department of Education (DOE) to establish custodial accounts by:
(1) Authorizing the DOE to establish custodial accounts for the deposit of annuity payments of employees; and
(2) Designating the insurance service provider or custodial service provider to bear the cost of administering the accounts.
The Hawaii State Teachers Association testified in support of this bill. DOE and the University of Hawaii testified in support of the intent of this bill.
Your Committee has amended this bill by making technical nonsubstantive changes for purposes of style, clarity, and accuracy.
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. 1315, S.D. 2, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 1315, S.D. 2, H.D. 2.
Respectfully submitted on behalf of the members of the Committee on Finance,
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____________________________ DWIGHT Y. TAKAMINE, Chair |
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