STAND. COM. REP. NO. 1082

Honolulu, Hawaii

, 2019

RE: H.B. No. 1163

H.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirtieth State Legislature

Regular Session of 2019

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 1163, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO SAVINGS PROMOTION CONTESTS,"

begs leave to report as follows:

The purpose of this measure is to authorize financial institutions that are depository institutions in the State to conduct savings promotion contests.

HawaiiUSA Federal Credit Union and Hawaii Credit Union League submitted testimony in support of this measure. The Department of Commerce and Consumer Affairs provided comments.

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. 1163, H.D. 1, and recommends that it pass Third Reading.

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

____________________________

SYLVIA LUKE, Chair