STAND. COM. REP. NO.  1442

 

Honolulu, Hawaii

                , 2011

 

RE:   S.B. No. 1260

      S.D. 1

 

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Sixth State Legislature

Regular Session of 2011

State of Hawaii

 

Sir:

 

     Your Committee on Finance, to which was referred S.B. No. 1260, S.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO PUBLIC FINANCE,"

 

begs leave to report as follows:

 

     The purpose of this bill is to establish provisions relating to the State's allocation of the federally imposed limit on the principal amount of bonds that may be issued by issuers, with tax exempt interest, tax credits, interest subsidies, or other benefits under the Internal Revenue Code.

 

     The Department of Budget and Finance testified in support of this bill.

 

     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. 1260, S.D. 1, and recommends that it pass Second Reading and be placed on the calendar for Third Reading.

 

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

 

 

 

 

____________________________

MARCUS R. OSHIRO, Chair