STAND. COM. REP. NO. 3372

 

Honolulu, Hawaii

                  

 

RE:    H.B. No. 1543

       S.D. 1

 

 

 

Honorable Ronald D. Kouchi

President of the Senate

Twenty-Eighth State Legislature

Regular Session of 2016

State of Hawaii

 

Sir:

 

     Your Committee on Ways and Means, to which was referred H.B. No. 1543 entitled:

 

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

 

begs leave to report as follows:

 

     The purpose and intent of this measure is to authorize the issuance of general obligation bonds to finance appropriations contained in Acts of the Legislature for which the means of funding are designated as general obligation bond funds or reimbursable general obligation bond funds.

 

     Your Committee received testimony in support of this measure from the Department of Budget and Finance.

 

Your Committee finds that this measure makes findings required under article VII, section 13, of the state constitution to declare that the issuance of authorized bonds will not cause the debt limit to be exceeded.

 

     Your Committee has amended this measure by changing the effective date to July 1, 2076, to facilitate further discussion on the measure.

 

     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. 1543, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 1543, S.D. 1, and be placed on the calendar for Third Reading.

 

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

 

 

 

________________________________

JILL N. TOKUDA, Chair