STAND. COM. REP. NO. 530-00

                                 Honolulu, Hawaii
                                                   , 2000

                                 RE: H.B. No. 2414
                                     H.D. 1




Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twentieth State Legislature
Regular Session of 2000
State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No.
2414 entitled: 

     "A BILL FOR AN ACT MAKING AN EMERGENCY APPROPRIATION FOR THE
     ASBESTOS PROPERTY DAMAGE LITIGATION,"

begs leave to report as follows:

    The purpose of this bill is to appropriate additional moneys
for payment of expenses of the asbestos property damage
litigation in fiscal year 1999-2000.

    Your Committee received a letter from the Governor dated
February 4, 2000:

    (1)  Stating that funds requested will enable the Attorney
         General to begin the critical first trial segment,
         commencing June 2000, and to continue the State's
         efforts to recover costs due to asbestos removal and
         damages; and

    (2)  Requesting timely passage of this measure in order to
         compensate experts, consultants, and special deputies
         retained for the asbestos property damage litigation.

    The Attorney General submitted testimony in support of this
measure.

    Your Committee has amended this bill by making technical,
nonsubstantive amendments for style and clarity.

 
 
                                 STAND. COM. REP. NO. 530-00
                                 Page 2

 
     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 H.B. No.
2414, as amended herein, and recommends that it pass Second
Reading in the form attached hereto as H.B. No. 2414, H.D. 1, and
be placed on the calendar for Third Reading.

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



                                   ______________________________
                                   DWIGHT Y. TAKAMINE, Chair