STAND. COM. REP. NO.  974

Honolulu, Hawaii

                , 2007

RE:   H.B. No. 1294

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fourth State Legislature

Regular Session of 2007

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No. 1294 entitled:

"A BILL FOR AN ACT RELATING TO THE HAWAII EMPLOYER-UNION HEALTH BENEFITS TRUST FUND,"

begs leave to report as follows:

     The purpose of this bill is to provide for better management of the Employer-Union Health Benefits Trust Fund (EUTF) by providing an appropriate, cost-neutral adjustment of the base monthly contributions for retiree benefit plans, in the event that the EUTF Board of Trustees adopts a revised rate structure for its retiree benefit plans.

     The Hawaii EUTF and Department of Budget and Finance testified in support of 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. 1294 and recommends that it pass Third Reading.

Respectfully submitted on behalf of the members of the Committee on Finance,

____________________________

MARCUS R. OSHIRO, Chair