STAND. COM. REP. NO.  1993

Honolulu, Hawaii

                , 2007

RE:   H.R. No. 108

      H.D. 1

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.R. No. 108, H.D. 1, entitled:

"HOUSE RESOLUTION ENCOURAGING THE EMPLOYEES' RETIREMENT SYSTEM TO INVEST IN HAWAII VENTURE CAPITAL,"

begs leave to report as follows:

     The purpose of this resolution is to encourage the Employees' Retirement System to invest in venture capital opportunities in Hawaii.

     As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee concurs with the intent and purpose of H.R. No. 108, H.D. 1, and recommends its adoption.

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

____________________________

MARCUS R. OSHIRO, Chair