STAND. COM. REP. NO.  109

Honolulu, Hawaii

                , 2016

RE:   H.B. No. 2309

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Eighth State Legislature

Regular Session of 2016

State of Hawaii

Sir:

     Your Committee on Labor & Public Employment, to which was referred H.B. No. 2309 entitled:

"A BILL FOR AN ACT RELATING TO INVESTMENTS OF THE HAWAII EMPLOYER-UNION HEALTH BENEFITS TRUST FUND,"

begs leave to report as follows:

The purpose of this measure is to:

     (1)  Repeal certain restrictions on the Hawaii Employer-Union Health Benefits Trust Fund to invest in certain asset classes, thereby allowing the Fund to invest in asset classes mirroring those of the Employees' Retirement System; and

     (2)  Make housekeeping amendments to sections 87A-34 and 87A-36, Hawaii Revised Statutes.

The Hawaii Employer-Union Health Benefits Trust Fund and the Hawaii Government Employees Association, AFSCME Local 152, AFL-CIO, testified in support of this measure.

     As affirmed by the record of votes of the members of your Committee on Labor & Public Employment that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2309 and recommends that it pass Second Reading and be referred to your Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Labor & Public Employment,

____________________________

MARK M. NAKASHIMA, Chair