STAND. COM. REP. NO. 1448
Honolulu, Hawaii
, 2013
RE: S.B. No. 1094
S.D. 1
H.D. 1
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 S.B. No. 1094, S.D. 1, entitled:
"A BILL FOR AN ACT MAKING AN APPROPRIATION TO THE EMERGENCY AND BUDGET RESERVE FUND,"
begs leave to report as follows:
The purpose of this measure is to recapitalize the emergency and budget reserve fund.
More specifically, this measure appropriates an unspecified amount from general funds to the emergency and budget reserve fund for fiscal year 2014-2015.
Your Committee recognizes that the use of moneys from the emergency and budget reserve fund and the Hawaii hurricane relief fund during the economic recession beginning in 2008 allowed the State to avoid having to take even greater spending reductions and revenue enhancement measures and enabled continued delivery of services to the State's most vulnerable populations. Now that the State's economy is rebounding and more resources are available, a concerted effort must be made to recapitalize the State's depleted fiscal reserves. Accordingly, your Committee finds that this measure is essential to safeguard the future economic well-being of the State.
Your Committee has amended this measure by:
(1) Changing the effective date to July 1, 2030, to facilitate further discussion; and
(2) Making technical nonsubstantive amendments for purposes of clarity and style.
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. 1094, S.D. 1, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 1094, S.D. 1, H.D. 1, and be placed on the calendar for Third Reading.
Respectfully submitted on behalf of the members of the Committee on Finance,
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____________________________ SYLVIA LUKE, Chair |
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