STAND. COM. REP. NO.  1533-14

Honolulu, Hawaii

                , 2014

RE:   S.B. No. 2758

      S.D. 1

      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 S.B. No. 2758, S.D. 1, H.D. 1, entitled:

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

begs leave to report as follows:

The purpose of this measure is to require the interest and other moneys earned on the principal of the Hurricane Reserve Trust Fund to be deposited into the Hurricane Reserve Trust Fund instead of being diverted to the general fund.

The Department of Budget and Finance, Department of Defense, Department of Defense Civil Defense Division, and the Hawaii Association of REALTORS supported 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 S.B. No. 2758, S.D. 1, 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