STAND. COM. REP. NO.  821-08

Honolulu, Hawaii

                , 2008

RE:   H.B. No. 2245

      H.D. 1

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fourth State Legislature

Regular Session of 2008

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No. 2245, 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 the University of Hawaii (UH) with the flexibility to generate additional revenue through alternative means, by authorizing the transfer of all UH funds, with the exception of general funds, into the University of Hawaii Commercial Enterprises Revolving Fund to finance the establishment of new enterprises, thus allowing UH to reduce its reliance on state funding sources.

     UH 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. 2245, H.D. 1, and recommends that it pass Third Reading.

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

____________________________

MARCUS R. OSHIRO, Chair