STAND. COM. REP. NO. 764

Honolulu, Hawaii

, 2019

RE: H.B. No. 342

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 Judiciary, to which was referred H.B. No. 342, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE HAWAII STRATEGIC DEVELOPMENT CORPORATION,"

begs leave to report as follows:

The purpose of this measure is to:

(1) Prohibit the Hawaii Strategic Development Corporation from investing or acquiring new assets or securities in firearms and fossil fuel companies; and

(2) Set aside a portion of the revenue generated by the Hawaii Strategic Development Corporation to be deposited into a subaccount of the Corporation's revolving fund.

The O‘ahu County Committee on Legislative Priorities of the Democratic Party of Hawai‘i and a many testified in support of this measure. The Hawaii Firearms Coalition, Institute for Rational and Evidence-based Legislation, and many testified in opposition to this measure. The Department of Budget and Finance and Hawaii Strategic Development Corporation provided comments.

As affirmed by the record of votes of the members of your Committee on Judiciary that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 342, H.D. 1, and recommends that it be referred to your Committee on Finance.

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

____________________________

CHRIS LEE, Chair