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. 2848, H.D. 1, entitled:

begs leave to report as follows:

The purpose of this bill is to propose amendments to the Constitution of the State of Hawaii that would authorize the State to issue special purpose revenue bonds to assist not-for-profit private nonsectarian and sectarian elementary schools, secondary schools, colleges, and universities.

Testimony in support of this measure was submitted by the Hawaii Association of Independent Schools and Hawaii Catholic Conference. The Department of Budget and Finance and the Hawaii State Teachers Association opposed this measure. The Department of Education offered comments

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. 2848, H.D. 1, and recommends that it pass Third Reading.