STAND. COM. REP. NO. 1524

 

Honolulu, Hawaii

, 2015

 

RE: S.B. No. 1092

S.D. 1

H.D. 1

 

 

 

 

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Eighth State Legislature

Regular Session of 2015

State of Hawaii

 

Sir:

 

Your Committee on Finance, to which was referred S.B. No. 1092, S.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO THE REPEAL OF NON-GENERAL FUNDS,"

 

begs leave to report as follows:

 

The purpose of this measure is to repeal the Pineapple Workers and Retirees Housing Assistance Fund and Transportation Use Special Fund in accordance with the Office of the Auditor's recommendations in Auditor's Report Nos. 14-05 and 14-13.

 

The Office of the Auditor testified in support of this measure. The Department of Business, Economic Development and Tourism; Department of Budget and Finance; Department of Transportation; and Tax Foundation of Hawaii provided comments.

 

Your Committee has amended this measure by adding the contents of House Bill No. 173 H.D. 1 and House Bill No. 79 H.D. 1, which were previously heard by Your Committee on February 18, 2015, into the contents of this measure. Specifically, in line with the Office of the Auditor's recommendations in Reports No. 14-05 and 14-13, this measure:

 

(1) Repeals or abolishes the:

 

(A) Public Facility Revenue Bond Special Fund;

 

(B) Capital Formation Revolving Fund;

(C) Statewide Geospatial Information and Data Integration Special Fund;

 

(D) Fee Simple Residential Revolving Fund;

 

(E) Amtrak Trust Account;

 

(F) Hurricane Iniki Insurance Proceeds Special Fund; and

 

(G) Deposits-plans and Specifications Trust Account; and

 

(2) Reclassifies the:

 

(A) Tourism Emergency Trust Fund as a special fund;

 

   (B) Housing Project Bond Special Fund Multi Family as a revolving fund;

 

    (C) Housing Loan Program Revenue Bond Fund, also known as the Single Family Mortgage Purchase Revenue Bond Fund, as a revolving fund;

 

  (D) Rental Housing Trust Fund as a revolving fund; and

(E) Housing Loan Program Revenue Bond Special Fund Rental Housing System as a revolving fund.

 

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. 1092, S.D. 1, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 1092, S.D. 1, H.D. 1, and be placed on the calendar for Third Reading.

 

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

 

 

 

 

____________________________

SYLVIA LUKE, Chair