STAND. COM. REP. NO.  733-16

Honolulu, Hawaii

                , 2016

RE:   H.B. No. 2094

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. 2094 entitled:

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

begs leave to report as follows:

The purpose of this measure is to incorporate the tax abatement disclosure requirements of Governmental Accounting Standards Board Statement No. 77 into the State's Comprehensive Annual Financial Report, thereby facilitating a better understanding of the limitations and expectations of the State's ability to raise capital.

The Department of Accounting and General Services opposed this measure.

     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. 2094 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