STAND. COM. REP. NO. 378

Honolulu, Hawaii

, 2023

RE: H.B. No. 1013

H.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirty-Second State Legislature

Regular Session of 2023

State of Hawaii

Sir:

Your Committee on Labor & Government Operations, to which was referred H.B. No. 1013 entitled:

"A BILL FOR AN ACT RELATING TO THE REPEAL OF ACT 192, SESSION LAWS OF HAWAII 2007,"

begs leave to report as follows:

The purpose of this measure is to repeal Act 192, Session Laws of Hawaii 2007, which requires the Employees' Retirement System to divest itself of investments in companies that provide support for genocide in Darfur, Sudan, and provide annual reports to the Legislature on the status of divestment.

Your Committee received testimony in support of this measure from the Board of Trustees of the Employees' Retirement System.

Your Committee finds that genocide in Sudan has ceased and that Sudan is no longer on the terrorism watchlist. Although your Committee has concerns about making investments in this region due to the region's continued instability, section 8 of Act 192, Session Laws of Hawaii 2007, requires the repeal of this Act once specific criteria have been satisfied.

Your Committee has amended this measure by:

(1) Changing the effective date to June 30, 3000, to encourage further discussion; and

(2) Making technical, nonsubstantive amendments for the purposes of clarity, consistency, and style.

As affirmed by the record of votes of the members of your Committee on Labor & Government Operations that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1013, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 1013, H.D. 1, and be referred to your Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Labor & Government Operations,

____________________________

SCOT Z. MATAYOSHI, Chair