CONFERENCE COMMITTEE REP. NO. 111

Honolulu, Hawaii

                 , 2009

RE:    H.B. No. 381

       H.D. 2

       S.D. 1

       C.D. 1

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fifth State Legislature

Regular Session of 2009

State of Hawaii

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fifth State Legislature

Regular Session of 2009

State of Hawaii

Sir and Madam:

     Your Committee on Conference on the disagreeing vote of the House of Representatives to the amendments proposed by the Senate in H.B. No. 381, H.D. 2, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE STATE OF HAWAII ENDOWMENT FUND,"

having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.

     The purpose of this bill is to replace the June 30, 2009, lapse date for a $4,000,000 appropriation to the State of Hawaii Endowment Fund, originally appropriated in Act 97, Session Laws of Hawaii 2006, with provisions stipulating that all pledges or portions of pledges not collected by February 28, 2013, will cause any unexpended balance from the appropriation to revert to the general fund.

     Your Committee on Conference has amended this bill by changing the effective date to June 29, 2009.

     As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of H.B. No. 381, H.D. 2, S.D. 1, as amended herein, and recommends that it pass Final Reading in the form attached hereto as H.B. No. 381, H.D. 2, S.D. 1, C.D. 1.

Respectfully submitted on behalf of the managers:

ON THE PART OF THE SENATE

ON THE PART OF THE HOUSE

____________________________ CAROL FUKUNAGA, Chair	____________________________ JOEY MANAHAN, Co-Chair
____________________________ SHAN S. TSUTSUI, Co-Chair	____________________________ MARCUS R. OSHIRO, Co-Chair