STAND. COM. REP. NO.  760

Honolulu, Hawaii

                , 2011

RE:   H.B. No. 830

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Sixth State Legislature

Regular Session of 2011

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No. 830 entitled:

"A BILL FOR AN ACT RELATING TO STUDENT LOAN FUNDS,"

begs leave to report as follows:

     The purpose of this bill is to repeal state authorization for a not-for-profit corporation to function as a secondary market student loan purchaser in Hawaii, in accordance with federal regulations passed in 2010 that terminated new student loan originations by private entities.

     American Savings Bank and several concerned individuals testified in support of 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 H.B. No. 830 and recommends that it pass Third Reading.

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

____________________________

MARCUS R. OSHIRO, Chair