CONFERENCE COMMITTEE REPORT NO. 100

                            Honolulu, Hawaii
                                            , 1999

                            RE:   H.B. No. 307
                                  H.D. 2
                                  S.D. 1
                                  C.D. 1




Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twentieth State Legislature
Regular Session of 1999
State of Hawaii

Honorable Norman Mizuguchi
President of the Senate
Twentieth State Legislature
Regular Session of 1999
State of Hawaii

Sir:

     Your Committee on Conference on the disagreeing vote of the
House of Representatives to the amendments proposed by the Senate
in H.B. No. 307, H.D. 2, S.D. 1, entitled:

    "A BILL FOR AN ACT RELATING TO HIGHER EDUCATION,"

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 bill is to establish a college savings
program within the Department of Budget and Finance to enable
families to save for college tuition and other expenses.  

     A qualified state tuition program in accordance with section
529 of the Internal Revenue Code will enable participants of the
program to obtain federal tax benefits.

     Your Committee on Conference has amended the bill by:


 
 
 
 
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     (1) Authorizing the Director of Finance to enter into a
         contract of up to ten years with a financial
         organization;

     (2) Specifying the percentages and the amount that are
         exempt from application to the satisfaction of a money
         judgment as follows:

          (A)  100 percent of moneys in an account established in
               connection with a scholarship program; 

          (B)  100 percent of moneys in an account where the
               judgment debtor is the account owner and the
               designated beneficiary of the account is a minor;
               and

          (C)  An amount not exceeding $10,000 in an account, or
               in the aggregate for more than one account, where
               the judgment debtor is the account owner of the
               account or accounts;

     and

     (3)  Making technical, nonsubstantive revisions for style
          and clarity.

     Your Committee on Conference is in accord with the intent
and purpose of H.B. No. 307, H.D. 2, S.D. 1, as amended herein,
and recommends that it pass Final Reading in the form attached
hereto as H.B. No. 307, H.D. 2, S.D. 1, C.D. 1.

                                   Respectfully submitted,

MANAGERS ON THE PART OF THE        MANAGERS ON THE PART OF THE
           SENATE                              HOUSE
                                   
                                   
                                   
______________________________     ______________________________
DAVID Y. IGE, Co-Chair             K. MARK TAKAI, Co-Chair
                                   
                                   
                                   
______________________________     ______________________________
CAROL FUKUNAGA, Co-Chair           EZRA R. KANOHO, Co-Chair

 
 
 
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______________________________     ______________________________
ANDREW LEVIN, Co-Chair             BRIAN SCHATZ, Member
                                   
                                   
                                   
______________________________     ______________________________
ROBERT BUNDA, Member               NATHAN SUZUKI, Member
                                   
                                   
                                   
______________________________     ______________________________
SAM SLOM, Member                   BARBARA MARUMOTO, Member