STAND. COM. REP. NO.  1599-16

Honolulu, Hawaii

                , 2016

RE:   S.B. No. 2838

      S.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. 2838, S.D. 1, 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 allow the Hawaii Employer-Union Health Benefits Trust Fund Board of Trustees to invest moneys in the same manner as that of the Employees' Retirement System Board of Trustees by repealing certain restrictions on investments that can be made by the Hawaii Employer-Union Health Benefits Trust Fund.

The Hawaii Employer-Union Health Benefits Trust Fund Board of Trustees 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 Finance that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2838, S.D. 1, and recommends that it pass Third Reading.

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

____________________________

SYLVIA LUKE, Chair