STAND. COM. REP. NO. 783
Honolulu, Hawaii
, 2005
RE: H.B. No. 842
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. 842 entitled:
"A BILL FOR AN ACT AUTHORIZING THE ISSUANCE OF BONDS FOR EDUCATION PURPOSES,"
begs leave to report as follows:
The purpose of this bill is to subsidize various school improvements, including renovation and restoration projects, equipment and technology acquisition, curriculum development, and teacher training, by taking advantage of financing under the federal Qualified Zone Academy Bond program.
This bill authorizes the Director of Finance to issue bonds or secure loans in an unspecified amount to assist public schools that either:
(1) Are located within an Empowerment Zone or Enterprise Community; or
(2) Have a student population in which at least 35 percent qualify for the federal school lunch program.
The Department of Education testified in support of this bill. The Department of Budget and Finance offered comments.
Hawaii's allocation under this program is $4,327,000.
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. 842 and recommends that it pass Third Reading.
Respectfully submitted on behalf of the members of the Committee on Finance,
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____________________________ DWIGHT TAKAMINE, Chair |
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