STAND. COM. REP. NO. 816-20

Honolulu, Hawaii

, 2020

RE: H.B. No. 2399

H.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirtieth State Legislature

Regular Session of 2020

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 2399, H.D. 1, entitled:

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

begs leave to report as follows:

The purpose of this measure is to amend provisions relating to the short-term investment of state monies, including the types of financial instruments in which state monies may be invested.

Your Committee received comments on this measure from the Department of Budget and Finance and the Tax Foundation of Hawaii.

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. 2399, 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