STAND. COM. REP. NO. 844
RE: H.B. No. 530
Honorable Scott K. Saiki
Speaker, House of Representatives
Thirtieth State Legislature
Regular Session of 2019
State of Hawaii
Your Committee on Finance, to which was referred H.B. No. 530, H.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO MANAGEMENT OF STATE FUNDS,"
begs leave to report as follows:
(1) Authorizing the use of and establishing the regulatory framework for linked investments to incentivize the provision by market-based financial institutions of agricultural loans; and
(2) Authorizing the Director of Finance to commit no more than ten percent of excess state moneys for the purchase of certificates of deposit for linked investments through agreements with eligible lending institutions.
The O‘ahu County Committee on Legislative Priorities of the Democratic Party of Hawai‘i submitted testimony in support of this measure. The Department of Agriculture and Department of Budget and Finance offered comments on this measure.
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 H.B. No. 530, H.D. 1, and recommends that it pass Third Reading.
Respectfully submitted on behalf of the members of the Committee on Finance,
SYLVIA LUKE, Chair