STAND. COM. REP. NO. 1343

Honolulu, Hawaii

RE:    H.B. No. 171

       H.D. 1

       S.D. 1

Honorable Donna Mercado Kim

President of the Senate

Twenty-Eighth State Legislature

Regular Session of 2015

State of Hawaii

Madam:

     Your Committee on Ways and Means, to which was referred H.B. No. 171, H.D. 1, entitled:

"A BILL FOR AN ACT MAKING AN APPROPRIATION TO THE HURRICANE RESERVE TRUST FUND,"

begs leave to report as follows:

     The purpose and intent of this measure is to appropriate moneys for fiscal year 2015-2016 to be deposited into the Hurricane Reserve Trust Fund.

     Your Committee received testimony in support of this measure from the Hawaii Association of Realtors.  Your Committee received comments on this measure from the Department of Budget and Finance.

     Your Committee finds that increasing the balance in the Hurricane Reserve Trust Fund is in the public interest.  The fund is one of the reserve funds available to the State during emergencies.

Your Committee has amended this measure by changing the effective date to July 1, 2050, to facilitate further discussion on the measure.

     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 H.B. No. 171, H.D. 1, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 171, H.D. 1, S.D. 1, and be placed on the calendar for Third Reading.

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

________________________________

JILL N. TOKUDA, Chair