STAND. COM. REP. NO.  479-08

Honolulu, Hawaii

                , 2008

RE:   H.B. No. 2280

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fourth State Legislature

Regular Session of 2008

State of Hawaii

Sir:

     Your Committee on Legislative Management, to which was referred H.B. No. 2280 entitled:

"A BILL FOR AN ACT RELATING TO FINANCIAL EDUCATION,"

begs leave to report as follows:

     The purpose of this bill is to help lower-income families achieve greater financial independence and well-being by establishing the Statewide Task Force on Public Financial Education and Asset Building to develop policy recommendations relating to:

     (1)  Universal, matched savings accounts for newborns;

     (2)  Standards for financial and economic education; and

(3)  Elimination of asset limits as a bar to eligibility for public benefit programs.

     The Hawaii Alliance for Community-Based Economic Development testified in support of this bill.  The Department of Human Services supported the intent of this measure.  The Department of Budget and Finance offered comments.

     As affirmed by the record of votes of the members of your Committee on Legislative Management that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2280 and recommends that it be referred to the Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Legislative Management,

____________________________

MICHAEL Y. MAGAOAY, Chair