CONFERENCE COMMITTEE REP. NO. 231-22

Honolulu, Hawaii

, 2022

RE: H.B. No. 2240

H.D. 1

S.D. 2

C.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirty-First State Legislature

Regular Session of 2022

State of Hawaii

Honorable Ronald D. Kouchi

President of the Senate

Thirty-First State Legislature

Regular Session of 2022

State of Hawaii

Sirs:

Your Committee on Conference on the disagreeing vote of the House of Representatives to the amendments proposed by the Senate in H.B. No. 2240, H.D. 1, S.D. 2, entitled:

"A BILL FOR AN ACT RELATING TO OTHER POST-EMPLOYMENT BENEFITS,"

having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.

The purpose of this measure is to:

(1) Authorize the issuance of general obligation bonds to pay or prepay the State's other post-employment benefits liability under certain conditions; and

(2) Require the outstanding balance of general obligation bonds issued to pay or prepay the other post-employment benefits liability to be considered in the calculation of a public employer's annual required contribution to the other post-employment benefits trust fund.

Your Committee on Conference has amended this measure by:

(1) Inserting a $300,000,000 ceiling on the amount of general obligation bonds the Director of Finance is authorized to issue for fiscal year 2022-2023 for the Other Post-employment Benefits Trust Fund;

(2) Clarifying the method for calculating the annual required contribution as it relates to the general obligation bonds authorized by this Act, to pay or prepay the State's other post-employment benefits liability; and

(3) Changing the effective date of section 1 to July 1, 2022.

As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of H.B. No. 2240, H.D. 1, S.D. 2, as amended herein, and recommends that it pass Final Reading in the form attached hereto as H.B. No. 2240, H.D. 1, S.D. 2, C.D. 1.

Respectfully submitted on behalf of the managers:

ON THE PART OF THE SENATE

ON THE PART OF THE HOUSE

____________________________ BRIAN T. TANIGUCHI Chair	____________________________ RICHARD H.K. ONISHI Co-Chair
____________________________ GILBERT S.C. KEITH-AGARAN Co-Chair	____________________________ KYLE T. YAMASHITA Co-Chair