STAND. COM. REP. NO. 1579
Honolulu, Hawaii
, 2005
RE: S.B. No. 667
S.D. 2
H.D. 2
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-Third State Legislature
Regular Session of 2005
State of Hawaii
Sir:
Your Committee on Finance, to which was referred S.B. No. 667, S.D. 2, H.D. 1, entitled:
"A BILL FOR AN ACT MAKING AN EMERGENCY APPROPRIATION FOR FLOOD LOSSES,"
begs leave to report as follows:
The purpose of this bill is to help pay for losses incurred by the University of Hawaii (UH) as a result of the flood on October 30, 2004, by:
(1) Increasing the spending ceiling of the State Risk Management Revolving Fund (Revolving Fund) by $25,000,000 to $35,450,000;
(2) Appropriating $25,000,000 out of the Revolving Fund for fiscal year 2004-2005 to be deposited into the general fund; and
(3) Appropriating $25,000,000 out of the general fund for fiscal year 2004-2005 for the cleaning, repairing, or replacing of damaged or destroyed UH property, and for reimbursing UH for funds already spent for the cleaning, repairing, and replacing of damaged or destroyed UH property.
UH and the Department of Accounting and General Services supported this bill.
Your Committee has amended this measure by:
(1) Changing the amount appropriated out of the general fund for the cleaning, repairing, or replacing of damaged or destroyed UH property, and for reimbursing UH for funds already spent for the cleaning, repairing, and replacing of damaged or destroyed UH property, to $22,000,000; and
(2) Making technical, nonsubstantive amendments for style, clarity, and consistency.
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 S.B. No. 667, S.D. 2, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 667, S.D. 2, H.D. 2.
Respectfully submitted on behalf of the members of the Committee on Finance,
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____________________________ DWIGHT TAKAMINE, Chair |
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