STAND. COM. REP. NO.  632

Honolulu, Hawaii

                , 2015

RE:   H.B. No. 79

      H.D. 1

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Eighth State Legislature

Regular Session of 2015

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No. 79 entitled:

"A BILL FOR AN ACT RELATING TO NON-GENERAL FUNDS,"

begs leave to report as follows:

The purpose of this measure is to repeal or reclassify various non-general funds in accordance with the Auditor's recommendations in Auditor's Report No. 14-13.  Specifically, this measure:

     (1)  Repeals the:

          (A)  Hawaii Television and Film Development Special Fund;

          (B)  Pineapple Workers and Retirees Housing Assistance Fund;

          (C)  Renewable Energy Facility Siting Special Fund;

          (D)  Public Facility Revenue Bond Special Fund;

          (E)  Hawaii Technology Loan Revolving Fund;

          (F)  Hawaii Community-Based Economic Development Revolving Fund;

          (G)  Capital Formation Revolving Fund;

          (H)  Statewide Geospatial Information and Data Integration Special Fund; and

          (I)  Fee Simple Residential Revolving Fund; and

     (2)  Reclassifies the:

          (A)  Tourism Emergency Trust Fund as a special fund;

          (B)  Housing Project Bond Special Fund – Multi Family as a revolving fund;

          (C)  Housing Loan Program Revenue Bond Fund, also known as the Single Family Mortgage Purchase Revenue Bond Fund, as a revolving fund;

          (D)  Rental Housing Trust Fund as a revolving fund; and

          (E)  Housing Loan Program Revenue Bond Special Fund – Rental Housing System as a revolving fund.

The Office of the Auditor testified in support of this measure.  The Department of Business, Economic Development and Tourism, Hawaii Housing Finance and Development Corporation, High Technology Development Corporation, and Tax Foundation of Hawaii provided comments.

     Your Committee has amended this measure by:

     (1)  Deleting the following:

          (A)  Part II of the measure, which repealed the Hawaii Television and Film Development Special Fund;

          (B)  Part VII of the measure, which repealed the Renewable Energy Facility Siting Special Fund;

          (C)  Part IX of the measure, which repealed the Hawaii Technology Loan Revolving Fund; and

          (D)  Part X of the measure, which repealed the Hawaii Community-Based Economic Development Revolving Fund; and

     (2)  Making technical, nonsubstantive amendments for clarity, consistency, 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 H.B. No. 79, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 79, H.D. 1, and be placed on the calendar for Third Reading.

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

____________________________

SYLVIA LUKE, Chair