STAND. COM. REP. NO. 844

Honolulu, Hawaii

, 2019

RE: H.B. No. 530

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. 530, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO MANAGEMENT OF STATE FUNDS,"

begs leave to report as follows:

The purpose of this measure is to expand the availability of agricultural loans by:

(1) Authorizing the use of and establishing the regulatory framework for linked investments to incentivize the provision by market-based financial institutions of agricultural loans; and

(2) Authorizing the Director of Finance to commit no more than ten percent of excess state moneys for the purchase of certificates of deposit for linked investments through agreements with eligible lending institutions.

The O‘ahu County Committee on Legislative Priorities of the Democratic Party of Hawai‘i submitted testimony in support of this measure. The Department of Agriculture and Department of Budget and Finance offered comments on 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 H.B. No. 530, 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