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. 2752 entitled:

begs leave to report as follows:

The purpose of this bill is to encourage beneficiaries of student loans, student loan repayment contracts, and scholarship contracts to honor their financial and service obligations by authorizing the licensing authority to suspend, deny, or refuse to renew, reinstate, or restore the license of any person who has defaulted or breached any obligation under a student loan, student loan repayment contract, or scholarship contract.

Testimony in support of this measure was submitted by the University of Hawaii and the Hawaii Credit Counseling Service. The Department of Education supported the intent of this bill. The Department of Commerce and Consumer Affairs, Legislative Reference Bureau, and a concerned citizen offered comments.

Your Committee has amended this measure by:

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. 2752, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 2752, H.D. 1.