STAND. COM. REP. 705
Honolulu, Hawaii
, 2003
RE: H.B. No. 640
H.D. 1
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-Second State Legislature
Regular Session of 2003
State of Hawaii
Sir:
Your Committee on Finance, to which was referred H.B. No. 640 entitled:
"A BILL FOR AN ACT MAKING AN APPROPRIATION FOR THE LOSS MITIGATION GRANT PROGRAM,"
begs leave to report as follows:
The purpose of this bill is to:
(1) Appropriate $3,500,000 for fiscal year 2003-2004 and $2,500,000 for fiscal year 2004-2005 from interest income transferred from the Hurricane Reserve Trust Fund to be deposited into the Loss Mitigation Grant Fund;
(2) Use the moneys to develop and implement the Loss Mitigation Grant Program; and
(3) Allow appropriated funds to be used for grants issued from January 1, 2003.
The Hurricane Risk Mitigation Task Force, Hawaii Security Shutters, LLC, and concerned citizens testified in support of this measure. The Hawaii Association of Realtors supported the intent of this measure.
Your Committee has amended this bill by:
(1) Changing the appropriations to $1 to promote further discussion; and
(2) 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. 640, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 640, H.D. 1, and be placed on the calendar for Third Reading.
Respectfully submitted on behalf of the members of the Committee on Finance,
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____________________________ DWIGHT Y. TAKAMINE, Chair |
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