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. 2198, H.D. 1, entitled:

begs leave to report as follows:

The purpose of this bill is to reduce artificially high gasoline prices in this State by establishing a maximum wholesale gasoline price that oil companies may charge Hawaii gasoline retailers that is based on an average of four international crude oil prices.

Your Committee received testimony in opposition to this bill from the Department of Business, Economic Development, and Tourism, and Rosehill and Associates.

Your Committee has amended this bill by making technical, nonsubstantive amendments for purposes of clarity, consistency, and style.

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. 2198, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 2198, H.D. 2.