STAND

 

STAND. COM. REP. NO.2550

Honolulu, Hawaii

, 2002

RE: S.B. No. 2743

 

 

Honorable Robert Bunda

President of the Senate

Twenty-First State Legislature

Regular Session of 2002

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred S.B. No. 2743 entitled:

"A BILL FOR AN ACT RELATING TO CENTRAL SERVICE EXPENSES,"

begs leave to report as follows:

The purpose of this measure is to require the Director of Finance, from time to time, to transfer five per cent of all receipts in the compliance resolution fund and the insurance regulation fund to the state general fund for the purpose of defraying the prorated estimate of central service expenses of government in relation to each fund.

Your Committee finds that the Department of Commerce and Consumer Affairs' compliance resolution fund and the insurance regulation fund are currently exempted from having to pay the prorated estimate of their central service expenses. Your Committee also finds that this measure will result in the transfer of approximately $1,300,000 per year from the compliance resolution fund and $200,000 per year from the insurance regulation fund, to the state general fund. The transfer of $1,500,000 per year from these special funds to the state general fund will allow the State to better serve the needs of the public.

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 S.B. No. 2743 and recommends that it pass Third Reading.

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

		____________________________ BRIAN T. TANIGUCHI, Chair