CONFERENCE COMMITTEE REP. NO. 82

 

Honolulu, Hawaii

                 , 2015

 

RE:    S.B. No. 105

       S.D. 1

       H.D. 1

       C.D. 1

 

 

 

Honorable Donna Mercado Kim

President of the Senate

Twenty-Eighth State Legislature

Regular Session of 2015

State of Hawaii

 

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Eighth State Legislature

Regular Session of 2015

State of Hawaii

 

Madam and Sir:

 

     Your Committee on Conference on the disagreeing vote of the Senate to the amendments proposed by the House of Representatives in S.B. No. 105, S.D. 1, H.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO THE BUDGET,"

 

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 measure is to require that information regarding the projected annual debt service for bonds issued to finance capital improvement projects be included in the six-year program and financial plan and budget documents submitted to the Legislature.

 

     Your Committee on Conference finds that balancing the state budget is an intricate and time-consuming process for the Legislature.  Forward-looking financial planning, including the identification and consideration of known or potential costs, is a matter of best practices in budgeting.  Your Committee on Conference further finds that having additional information relating to anticipated debt service costs will allow the Legislature to make the best decisions regarding the funding of proposed capital improvement projects, agree on a balanced budget that more accurately and comprehensively reflects state costs, and better prepare for the State's fiscal future.

 

     Your Committee on Conference has amended this measure by changing the effective date to July 1, 2016.

 

     As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of S.B. No. 105, S.D. 1, H.D. 1, as amended herein, and recommends that it pass Final Reading in the form attached hereto as S.B. No. 105, S.D. 1, H.D. 1, C.D. 1.

 

Respectfully submitted on behalf of the managers:

 

ON THE PART OF THE HOUSE

 

ON THE PART OF THE SENATE

 

____________________________

SYLVIA LUKE, Chair

 

____________________________

JILL N. TOKUDA, Chair