Honorable Robert Bunda

President of the Senate

Twenty-Third State Legislature

Regular Session of 2006

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred H.B. No. 1920 entitled:

begs leave to report as follows:

The purpose of this measure is to improve and enhance the financial literacy of all residents of the State.

To accomplish this purpose, this measure expands the focus of Financial Literacy for Youth Month from youths only to all residents of the State by changing its designation to Financial Literacy Month.

Your Committee finds that a greater understanding and familiarity with financial markets and institutions on the part of all Hawaii residents will lead to increased economic activity and growth. Your Committee also finds that financial literacy will empower all individuals to make wise financial decisions and reduce the confusion of an increasingly complex economy.

As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1920, and recommends that it pass Second Reading and be placed on the calendar for Third Reading.