STAND. COM. REP. NO. 2626

Honolulu, Hawaii

RE:    S.B. No. 2784

       S.D. 2

Honorable Shan S. Tsutsui

President of the Senate

Twenty-Sixth State Legislature

Regular Session of 2012

State of Hawaii

Sir:

     Your Committee on Ways and Means, to which was referred S.B. No. 2784, S.D. 1, entitled:

"A BILL FOR AN ACT MAKING APPROPRIATIONS TO RECAPITALIZE STATE FISCAL RESERVES,"

begs leave to report as follows:

     The purpose and intent of this measure is to

     (1)  Make general fund appropriations for fiscal years 2011-2012 and 2012-2013 to recapitalize the emergency and budget reserve fund; and

     (2)  Make general fund appropriations for fiscal years 2011-2012, 2012-2013, and 2012-2014 to recapitalize the Hawaii hurricane relief fund.

     Your Committee finds that due to the State's economic downturn, using funds from the emergency and budget reserve fund and the Hawaii hurricane relief fund were necessary to maintain essential public health, public welfare, and education programs.  Your Committee also finds that these funds need to be recapitalized.

     Your Committee has amended this measure by:

     (1)  Deleting references to fiscal years in sections 2 and 3; and

     (2)  Making technical nonsubstantive changes for purposes of clarity and style.

     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. 2784, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2784, S.D. 2.

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

____________________________

DAVID Y. IGE, Chair