STAND. COM. REP. NO.  1622-16

Honolulu, Hawaii

                , 2016

RE:   S.B. No. 2550

      H.D. 1

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 S.B. No. 2550 entitled:

"A BILL FOR AN ACT RELATING TO FEDERAL FUNDS,"

begs leave to report as follows:

The purpose of this measure is to require the Office of the Governor to prepare a federal funding policy study for the State and appropriate funds for this purpose.

The Office of the Governor and Department of Budget and Finance provided comments on this measure.

     Your Committee has amended this measure by:

     (1)  Changing the appropriation amount from $50,000 to an unspecified amount;

     (2)  Changing its effective date to July 1, 2030, to facilitate further discussion; and

     (3)  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 S.B. No. 2550, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 2550, 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