STAND. COM. REP. NO.  1527

 

Honolulu, Hawaii

                , 2015

 

RE:   S.B. No. 1312

      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. 1312, S.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO STATE FUNDS,"

 

begs leave to report as follows:

 

     The purpose of this measure is to deposit general revenues into the Emergency and Budget Reserve Fund pursuant to Article VII, section 6, of the Hawaii State Constitution, which requires the Legislature to provide a tax refund or tax credit to state taxpayers or make a deposit into one or more funds, under certain economic conditions.

 

     The Department of Budget and Finance provided comments on this measure.

 

     Your Committee has amended this measure by appropriating general fund revenues to the Other Post-Employment Benefits Trust Fund for prefunding of health and other benefits plan costs for retirees and their beneficiaries. 

 

     Technical, nonsubstantive amendments were also made for clarity and consistency.

 


     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. 1312, S.D. 1, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 1312, 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