STAND. COM. REP. NO.  581

Honolulu, Hawaii

                , 2015

RE:   H.B. No. 78

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Eighth State Legislature

Regular Session of 2015

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No. 78 entitled:

"A BILL FOR AN ACT RELATING TO NON-GENERAL FUNDS,"

begs leave to report as follows:

The purpose of this measure is to reclassify the Department of Land and Natural Resources' Accrued Vacation and Sick Leave Fund as a trust fund as recommended by the Auditor in Report No.14-04.  

The Office of the Auditor and Department of Land and Natural Resources testified in support of this measure.  The Tax Foundation of Hawaii provided comments on 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 H.B. No. 78 and recommends that it pass Second Reading and be placed on the calendar for Third Reading.

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

____________________________

SYLVIA LUKE, Chair