CONFERENCE COMMITTEE REP. NO. 188-24

Honolulu, Hawaii

, 2024

RE: H.B. No. 40

S.D. 1

C.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirty-Second State Legislature

Regular Session of 2024

State of Hawaii

Honorable Ronald D. Kouchi

President of the Senate

Thirty-Second State Legislature

Regular Session of 2024

State of Hawaii

Sirs:

Your Committee on Conference on the disagreeing vote of the House of Representatives to the amendments proposed by the Senate in H.B. No. 40, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE GENERAL FUND,"

having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.

The purpose of this measure is to provide a tax credit to taxpayers and appropriate funds for fiscal year 2023-2024 to be deposited into the Emergency and Budget Reserve Fund and Other Post-Employment Benefits Trust Fund pursuant to Article VII, section 6, of the Hawaii State Constitution.

Your Committee on Conference has amended this measure by:

(1) Removing the provisions that provided an income tax credit;

(2) Inserting an appropriation amount of $300,000,000 to be deposited into the Emergency and Budget Reserve Fund and making the appropriation for fiscal year 2024-2025;

(3) Inserting an appropriation amount of $135,000,000 to be deposited into the Pension Accumulation Fund and making the appropriation for fiscal year 2024-2025;

(4) Adding the requisite information for making an appropriation in excess of the general fund expenditure ceiling pursuant to article VII, section 9, of the Hawaii State Constitution and sections 37-91 and 37-93, Hawaii Revised Statutes;

(5) Changing the effective date to July 1, 2024; and

(6) Making technical, nonsubstantive amendments for the purposes of clarity, consistency, and style.

As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of H.B. No. 40, S.D. 1, as amended herein, and recommends that it pass Final Reading in the form attached hereto as H.B. No. 40, S.D. 1, C.D. 1.

Respectfully submitted on behalf of the managers:

ON THE PART OF THE SENATE

ON THE PART OF THE HOUSE

____________________________ HENRY J.C. AQUINO Chair	____________________________ KYLE T. YAMASHITA Chair
____________________________ SHARON MORIWAKI Co-Chair