STAND. COM. REP. NO.  336

Honolulu, Hawaii

                , 2009

RE:   H.B. No. 381

      H.D. 1

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fifth State Legislature

Regular Session of 2009

State of Hawaii

Sir:

     Your Committee on Tourism, Culture, & International Affairs, to which was referred H.B. No. 381 entitled:

"A BILL FOR AN ACT RELATING TO THE STATE OF HAWAII ENDOWMENT FUND,"

begs leave to report as follows:

     The purpose of this bill is to extend to June 30, 2011, the lapse date for a $4,000,000 appropriation to the State of Hawaii Endowment Fund, originally appropriated in Act 97, Session Laws of Hawaii 2006.

     The Department of Accounting and General Services, Honolulu Symphony, and a concerned individual testified in support of this bill.  The Honolulu Symphony Foundation supported the intent of this measure.

     Your Committee has amended this bill by:

     (1)  Removing the provisions extending the lapse date;

     (2)  Inserting a provision stipulating that all portions of pledges not matched by an actual payment of the pledge by February 28, 2013, revert to the general fund; and

     (3)  Making technical, nonsubstantive amendments for clarity, consistency, and style.

     As affirmed by the record of votes of the members of your Committee on Tourism, Culture, & International Affairs that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 381, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 381, H.D. 1, and be referred to the Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Tourism, Culture, & International Affairs,

____________________________

JOEY MANAHAN, Chair