STAND. COM. REP. NO.2600

Honolulu, Hawaii

, 2002

RE: S.B. No. 2717

S.D. 1

 

 

Honorable Robert Bunda

President of the Senate

Twenty-First State Legislature

Regular Session of 2002

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred S.B. No. 2717, S.D. 1, entitled:

"A BILL FOR AN ACT MAKING EMERGENCY APPROPRIATION FOR SOCIAL SECURITY/MEDICARE EXPENSES,"

begs leave to report as follows:

The purpose of this measure is to make an emergency appropriation to the Employees' Retirement System for the employer's share of contributions to cover Social Security and Medicare costs.

Your Committee finds that funds that were transferred in 2001 to operate the Convention Center (authorized by Act 259, Session Laws of Hawaii 2001), included $10,125,000 transferred from funds budgeted for payment of Social Security expenses. These Social Security and Medicare expenses are expenses the State is obligated by law to fund and which now represent a shortfall requiring emergency provision. Your Committee supports this emergency measure.

As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2717, S.D. 1, and recommends that it pass Third Reading.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

____________________________

BRIAN T. TANIGUCHI, Chair