STAND. COM. REP. NO.  1808

Honolulu, Hawaii

                , 2007

RE:   S.B. No. 1372

      S.D. 1

      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 S.B. No. 1372, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO MANAGEMENT OF FINANCING AGREEMENTS,"

begs leave to report as follows:

     The purpose of this bill is to increase government efficiency by allowing state departments and agencies other than the Department of Budget and Finance (B&F) to enter directly into financing agreements for the construction of facilities and the leasing or purchase of equipment.

     B&F testified in support of this bill.

     Your Committee has amended this bill by:

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

(2)  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. 1372, S.D. 1, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 1372, S.D. 1, H.D. 1, and be placed on the calendar for Third Reading.

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

____________________________

MARCUS R. OSHIRO, Chair