STAND. COM. REP. NO. 1685-22

Honolulu, Hawaii

, 2022

RE: S.B. No. 3072

S.D. 2

H.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirty-First State Legislature

Regular Session of 2022

State of Hawaii

Sir:

Your Committee on Finance, to which was referred S.B. No. 3072, S.D. 2, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE HAWAII EMPLOYER-UNION HEALTH BENEFITS TRUST FUND INVESTMENTS,"

begs leave to report as follows:

The purpose of this measure is to identify certain types of alternative investment fund information, the disclosure of which would likely put the trust fund at a competitive disadvantage, and categorically exempt those categories of information from disclosure under the Uniform Information Practices Act, consistent with market best practices.

Your Committee received testimony in support of this measure from the Hawaii Employer-Union Health Benefits Trust Board of Trustees. Your Committee received testimony in opposition to this measure from Unite Here! Local 5 Hawaii. Your Committee received comments on this measure from the Office of Information Practices.

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 S.B. No. 3072, S.D. 2, 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