STAND. COM. REP. NO.  1579

Honolulu, Hawaii

                , 2017

RE:   S.B. No. 942

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Ninth State Legislature

Regular Session of 2017

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred S.B. No. 942 entitled:

"A BILL FOR AN ACT RELATING TO THE EMERGENCY AND BUDGET RESERVE FUND,"

begs leave to report as follows:

The purpose of this measure is to resolve a conflict in statutory language by amending section 328L-3, Hawaii Revised Statutes, which establishes the Emergency and Budget Reserve Fund (Fund), to leave unspecified the portion of Hawaii Tobacco Settlement Special Fund moneys that are to be deposited into the Fund.

The Department of Budget and Finance supported 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. 942 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