STAND. COM. REP. NO. 1313

Honolulu, Hawaii

, 2019

RE: S.B. No. 978

S.D. 1

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 Lower & Higher Education, to which was referred S.B. No. 978, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO STATE LIBRARY SYSTEM,"

begs leave to report as follows:

The purpose of this measure is to specify that unclaimed funds in the Unclaimed Property Trust Fund shall, after a five-year time limitation, escheat to the State and be transferred to the following funds:

(1) For unclaimed funds of $10 or less, the Libraries Special Fund; and

(2) For unclaimed funds of more than $10 but less than $250, the general fund.

The Hawaii State Public Library System and O‘ahu County Committee on Legislative Priorities of the Democratic Party of Hawai‘i supported this measure. The Department of Budget and Finance and Department of the Attorney General provided comments.

Your Committee has amended this measure by:

(1) Specifying that the commencement date for the limitation on claiming funds less than $100 shall be on the date the funds were deposited into the Unclaimed Property Trust Fund; and

(2) Changing the effective date to July 1, 2051, to encourage further discussion.

As affirmed by the record of votes of the members of your Committee on Lower & Higher Education that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 978, S.D. 1, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 978, S.D. 1, H.D. 1, and be referred to your Committee on Judiciary.

Respectfully submitted on behalf of the members of the Committee on Lower & Higher Education,

____________________________

JUSTIN H. WOODSON, Chair