Honorable Robert Bunda

President of the Senate

Twenty-Second State Legislature

Regular Session of 2003

State of Hawaii

Sir:

Your Committee on Education, to which was referred H.B. No. 1176, H.D. 1, entitled:

begs leave to report as follows:

The purpose of this measure is to authorize the issuance of general obligation bonds to finance statewide Department of Education projects under the Qualified Zone Academy Bond (QZAB) program.

The Department of Education testified in support of this measure.

The Taxpayers' Relief Act of 1997 authorized state governments to issue qualified zone academy bonds to establish qualified zone academies in areas designated as empowerment zones, enterprise communities, or areas serving low income and moderate income students under the National School Lunch Act. Under the QZAB program, funds may be used for renovation and repair, equipment, instructional materials, and professional development.

Your Committee believes that supporting the QZAB program will result in the renovation of state and school district properties which will in turn, support educational initiatives that will ensure that Hawaii's students will be prepared to compete in the global economy.

As affirmed by the record of votes of the members of your Committee on Education that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1176, H.D. 1, and recommends that it pass Second Reading and be referred to the Committee on Ways and Means.