STAND. COM. REP. NO. 2634

Honolulu, Hawaii

RE:    S.B. No. 2675

       S.D. 1

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fourth State Legislature

Regular Session of 2008

State of Hawaii

Madam:

     Your Committee on Ways and Means, to which was referred S.B. No. 2675, 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 authorize the transfer of all University of Hawaii funds, except for general funds and tuition funds, into the University of Hawaii commercial enterprises revolving fund.

     The University of Hawaii System submitted testimony in support of this measure.

     Act 196, Session Laws of Hawaii 2001, previously authorized the University of Hawaii to use all University of Hawaii funds, except general funds, to finance the establishment of new enterprises.  However, Act 196 sunset in 2004.  This has hampered the University of Hawaii's ability to establish or participate in commercial activities, the revenues from which could be used to benefit the University of Hawaii, in general.  Your Committee finds that this measure, by reinstating this authorization, will help reduce the University of Hawaii's reliance on state funding sources and generate additional revenue for the common benefit of the university.

     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. 2675, S.D. 1, and recommends that it pass Third Reading.

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

____________________________

ROSALYN H. BAKER, Chair