Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-First State Legislature

Regular Session of 2002

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 2166 entitled:

begs leave to report as follows:

The purpose of this bill is to authorize the State to use the proceeds of special purpose revenue bonds to assist not-for-profit private or sectarian elementary schools, secondary schools, colleges, and universities that serve the general public.

This bill will become effective upon ratification of the constitutional amendment authorizing the State to issue these bonds.

The Department of Education offered comments. The Department of Budget and Finance and the Hawaii State Teachers Association opposed this measure.

Your Committee has amended this bill by making:

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 H.B. No. 2166, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 2166, H.D. 1.