STAND. COM. REP. NO. 807
RE: H.B. No. 930
Honorable Scott K. Saiki
Speaker, House of Representatives
Thirty-First State Legislature
Regular Session of 2021
State of Hawaii
Your Committee on Finance, to which was referred H.B. No. 930, H.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO EMPLOYEES' RETIREMENT SYSTEM INVESTMENTS,"
begs leave to report as follows:
The purpose of this measure is to exempt certain types of specific alternative investment fund information from the public records disclosure requirements of Chapter 92F, Hawaii Revised Statutes, because the disclosure of such information would put the Employees' Retirement System at a competitive disadvantage and frustrate its legitimate government function.
Your Committee received testimony in support of this measure from the Board of Trustees of the Employees' Retirement System. Your Committee received testimony in opposition to this measure from the Civil Beat Law Center for the Public Interest. Your Committee received comments on this measure from the Office of Information Practices.
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. 930, 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