STAND. COM. REP. NO. 1348
Honolulu, Hawaii
RE: H.B. No. 78
Honorable Donna Mercado Kim
President of the Senate
Twenty-Eighth State Legislature
Regular Session of 2015
State of Hawaii
Madam:
Your Committee on Ways and Means, to which was referred H.B. No. 78 entitled:
"A BILL FOR AN ACT RELATING TO NON-GENERAL FUNDS,"
begs leave to report as follows:
The purpose and intent of this measure is to reclassify the Department of Land and Natural Resources' Accrued Vacation and Sick Leave Fund as a trust fund, as recommended by the Auditor in Report No. 14-04.
Your Committee received testimony in support of this measure from the Department of Land and Natural Resources and Office of the Auditor. Your Committee received comments on this measure from the Tax Foundation of Hawaii.
Your Committee finds that the accrued vacation and sick leave fund was established administratively as a revolving fund. However, the fund functions as a trust fund under definitions in the Hawaii Revised Statutes. Pursuant to the Auditor's recommendation, reclassification would more closely align the fund's actual operation and administration with the statutory definition of a trust fund.
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 H.B. No. 78, 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 Ways and Means,
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________________________________ JILL N. TOKUDA, Chair |
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