STAND. COM. REP. NO.  1633

Honolulu, Hawaii

                , 2009

RE:   S.B. No. 164

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fifth State Legislature

Regular Session of 2009

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred S.B. No. 164 entitled:

"A BILL FOR AN ACT RELATING TO THE FEDERAL GRANTS SEARCH, DEVELOPMENT, AND APPLICATION REVOLVING FUND,"

begs leave to report as follows:

   The purpose of this bill is to expand the use of funds in the Federal Grants Search, Development, and Application Revolving Fund (Fund) to monitor grant execution, ensure compliance with grant requirements, and audit grant expenditures.  This bill also renames the Fund to the "Federal Grants Revolving Fund."

     The Department of Education supported this bill.  The Department of Budget and Finance opposed this measure.

     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. 164 and recommends that it pass Third Reading.

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

____________________________

MARCUS R. OSHIRO, Chair