STAND. COM. REP. NO.  732-16

Honolulu, Hawaii

                , 2016

RE:   H.B. No. 1543

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Eighth State Legislature

Regular Session of 2016

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No. 1543 entitled:

"A BILL FOR AN ACT RELATING TO STATE BONDS,"

begs leave to report as follows:

The purpose of this measure is to authorize the issuance of general obligation bonds to finance capital improvement projects authorized in designated appropriation measures, including the supplemental appropriations act for the Executive Branch and the Judiciary.

     This measure also makes a declaration of findings with respect to the authorizations for the bonds as required under the State Constitution.

The Department of Budget and Finance provided testimony in support of the measure.

     Your Committee finds that the measure is a necessary legislative vehicle for the issuance of general obligation bonds to fund state capital improvement projects.

     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. 1543 and recommends that it pass Second Reading and be placed on the calendar for Third Reading.

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

____________________________

SYLVIA LUKE, Chair