STAND. COM. REP. NO. 902

Honolulu, Hawaii

RE:    S.B. No. 1154

       S.D. 2

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fourth State Legislature

Regular Session of 2007

State of Hawaii

Madam:

     Your Committee on Ways and Means, to which was referred S.B. No. 1154, S.D. 1, entitled:

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

begs leave to report as follows:

     The purpose of this measure is to provide additional flexibility to the Board of Regents, University of Hawaii, in financing and administering the University's capital projects.

     Your Committee received comments in support of this measure from the University of Hawaii.  Comments in opposition were received from the Department of Budget and Finance.

     Your Committee finds that the University of Hawaii has demonstrated the capability and competence to use its bonding authority responsibly and in the best interests of the University of Hawaii and the State.  Your Committee further finds that this measure will grant additional flexibility to the Board of Regents in the financing and administration of capital projects within the university's jurisdiction.

     Upon further consideration, your Committee has amended this measure by specifying that the power of the Board of Regents to construct and maintain a university project and to issue revenue bonds for the construction or maintenance of a university project is subject to the approval of only the Legislature, and is not subject to the approval of the Governor.  Your Committee has also amended this measure by making technical nonsubstantive amendments for purposes of clarity and style.

     As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1154, S.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.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

____________________________

ROSALYN H. BAKER, Chair