STAND. COM. REP. NO.  1836

Honolulu, Hawaii

                , 2007

RE:   S.B. No. 1154

      S.D. 2

      H.D. 2

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 S.B. No. 1154, S.D. 2, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE UNIVERSITY OF HAWAII,"

begs leave to report as follows:

     The purpose of this bill is to provide more flexibility to the University of Hawaii (UH) in the financing and administering of the construction and maintenance of university projects, university systems, or networks.

     UH testified in support of this bill.

     Your Committee has amended this bill by:

     (1)  Changing the $100 million limit on the total principal amount of revenue bonds that may be issued by the UH Board of Regents to an unspecified amount, to encourage further discussion;

     (2)  Changing the effective date to July 1, 2020, to encourage further discussion; and

     (3)  Making technical, nonsubstantive amendments for clarity, consistency, and style.

     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 S.B. No. 1154, S.D. 2, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 1154, S.D. 2, H.D. 2.

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

____________________________

MARCUS R. OSHIRO, Chair