STAND. COM. REP. NO.  655-14

Honolulu, Hawaii

                , 2014

RE:   H.B. No. 2280

      H.D. 1

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Seventh State Legislature

Regular Session of 2014

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No. 2280 entitled:

"A BILL FOR AN ACT MAKING AN APPROPRIATION TO THE HURRICANE RESERVE TRUST FUND,"

begs leave to report as follows:

The purpose of this measure is to appropriate $50,000,000 in general funds for fiscal year 2014-2015 for deposit into the Hurricane Reserve Trust Fund to rebuild sufficient state fiscal reserves and accelerate recapitalization of the Hurricane Reserve Trust Fund.

The Office of the Governor, Department of Budget and Finance, State Civil Defense, Hawaii Hurricane Relief Fund, and an individual supported this measure.

     Your Committee has amended this bill by changing the amount of the appropriation to an unspecified amount.

     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. 2280, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 2280, H.D. 1, and be placed on the calendar for Third Reading.

Respectfully submitted on behalf of the members of the Committee on Finance,

____________________________

SYLVIA LUKE, Chair