STAND. COM. REP. NO.  1663

Honolulu, Hawaii

                , 2013

RE:   H.C.R. No. 119

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Seventh State Legislature

Regular Session of 2013

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.C.R. No. 119 entitled:

"HOUSE CONCURRENT RESOLUTION REQUESTING THE EXECUTIVE OFFICE ON EARLY LEARNING, IN CONSULTATION WITH THE DEPARTMENT OF BUDGET AND FINANCE, TO CONDUCT A STUDY ON THE FEASIBILITY OF USING SOCIAL IMPACT BONDS TO FUND EARLY LEARNING PROGRAMS AND SERVICES IN THE STATE,"

begs leave to report as follows:

The purpose of this measure to request the Executive Office on Early Learning to conduct a study on the feasibility of using social impact bonds to fund early learning programs and services.

Testimony in support of this measure was received by the Department of Budget and Finance, Hawaii Association of Independent Schools, Good Beginnings Alliance, and Hawaii AEYC.  The Executive Office on Early Learning and the Legislative Reference Bureau provided comments.

     As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee concurs with the intent and purpose of H.C.R. No. 119 and recommends its adoption.

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

____________________________

SYLVIA LUKE, Chair