CONFERENCE COMMITTEE REP

CONFERENCE COMMITTEE REP. 25

Honolulu, Hawaii

, 2003

RE: H.B. No. 1154

H.D. 1

S.D. 2

C.D. 1

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Second State Legislature

Regular Session of 2003

State of Hawaii

Honorable Robert Bunda

President of the Senate

Twenty-Second State Legislature

Regular Session of 2003

State of Hawaii

Sir:

Your Committee on Conference on the disagreeing vote of the House of Representatives to the amendments proposed by the Senate in H.B. No. 1154, H.D. 1, S.D. 2, entitled:

"A BILL FOR AN ACT RELATING TO UNCLAIMED PROPERTY,"

having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.

The purpose of this bill is to improve the administration of the Unclaimed Property Program (Program) by:

(1) Authorizing moneys in the Unclaimed Property Trust Fund (Trust Fund) to pay for the operation, management, and enforcement of the Program;

(2) Providing that all unencumbered and unexpended moneys in excess of $1,300,000 remaining on balance in the Trust Fund on June 30 of each year shall lapse to the credit of the general fund; and

(3) Appropriating $313,888 for fiscal year (FY) 2003-2004 and $313,888 for FY 2004-2005 out of the Trust Fund for the administration and operation of the Program.

Your Committee on Conference has amended this bill by:

(1) Removing the appropriations for FY 2003-2004 and FY 2004-2005 for the administration and operation of the Program; and

(2) Making technical, nonsubstantive amendments for purposes of clarity, consistency, and style.

As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of H.B. No. 1154, H.D. 1, S.D. 2, as amended herein, and recommends that it pass Final Reading in the form attached hereto as H.B. No. 1154, H.D. 1, S.D. 2, C.D. 1.

Respectfully submitted on behalf of the managers:

ON THE PART OF THE SENATE

ON THE PART OF THE HOUSE

____________________________ COLLEEN HANABUSA, Chair		____________________________ DWIGHT Y. TAKAMINE, Chair
____________________________ BRIAN T. TANIGUCHI, Co-Chair