STAND. COM. REP. NO. 3396

Honolulu, Hawaii

RE: H.B. No. 1801

S.D. 1

Honorable Ronald D. Kouchi

President of the Senate

Thirty-Second State Legislature

Regular Session of 2024

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred H.B. No. 1801 entitled:

"A BILL FOR AN ACT RELATING TO STATE BONDS,"

begs leave to report as follows:

The purpose and intent of this measure is to authorize the issuance of general obligation bonds to finance project appropriations contained in Acts of the Legislature for which the means of funding is designated as general obligation bond funds or reimbursable general obligation bonds funds.

Your Committee received testimony in support of this measure from the Department of Budget and Finance.

Your Committee finds that the proceeds from general obligation bonds authorized by this measure will be used to finance projects that will benefit the State.

Your Committee has amended this measure by:

(1) Clarifying that the Judiciary Appropriations Act of 2023 should be adjusted to reflect additional appropriations provided in the Judiciary Supplemental Appropriations Act of 2024;

(2) Changing the effective date to July 1, 2050, to facilitate further discussion on the measure; and

(3) Making technical nonsubstantive changes for purposes of clarity, consistency, and style.

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 H.B. No. 1801, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 1801, S.D. 1, and be placed on the calendar for Third Reading.

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

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DONOVAN M. DELA CRUZ, Chair