Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Second State Legislature

Regular Session of 2003

State of Hawaii

Sir:

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

begs leave to report as follows:

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

DOE submitted testimony in support of this bill.

Your Committee finds that through the QZAB program, schools in areas with low-income populations can save on interest costs associated with financing school renovations and repairs. Although QZABs cannot be used for new construction, they can be used for:

(1) Renovating and repairing buildings;

(2) Investing in equipment and updated technology;

(3) Developing challenging curricula; and

(4) Training high-quality teachers.

Your Committee has amended this bill by:

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, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 1176, H.D. 1, and be referred to the Committee on Finance.