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 H.B. No. 531 entitled:

begs leave to report as follows:

The purpose of this bill is to allow the Director of Finance to invest up to ten percent of state short-term investment funds in linked investments.

The Hawaii Technology Trade Association testified in support of this measure. The Department of Budget and Finance opposed this bill.

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. 531 and recommends that it pass Second Reading and be placed on the calendar for Third Reading.