STAND. COM. REP. NO.3
Honolulu, Hawaii
, 2001
RE: H.B. No. 3
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-First State Legislature
Special Session of 2001
State of Hawaii
Sir:
Your Committee on Finance, to which was referred H.B. No. 3 entitled:
"A BILL FOR AN ACT RELATING TO state bonds,"
begs leave to report as follows:
The purpose of this bill is to authorize the issuance of general obligation bonds and to declare that the total amount of principal and interest estimated and calculated for all bonds issued and outstanding will not cause the State's debt limit to be exceeded at the time of issuance.
Article VII, section 13, of the State Constitution requires the Legislature to include a declaration of findings in every general law that the issuance of state bonds authorized will not cause the debt limit to be exceeded at the time of issuance.
The Department of Budget and Finance testified in support of this measure.
The bond declaration bill, H.B. No. 1400, S.D. 1, C.D. 1, was passed by the Legislature in the Regular Session of 2001. Section 3 of H.B. No. 1400, S.D. 1, C.D. 1, contained a reference to the Judiciary Appropriations Act of 2001, H.B. No. 1000, H.D. 1, S.D. 2, C.D. 1. However, H.B. No. 1000, H.D. 1, S.D. 2, C.D. 1, was transmitted to the Governor in a manner that raises a question whether the procedural requirements of Article III, section 16, of the State Constitution were met. Section 16 states in part:
Every bill which shall have passed the legislature shall be certified by the presiding officers and clerks of both houses and shall thereupon be presented to the governor. If the governor approves it, the governor shall sign it and it shall become law. If the governor does not approve such bill, the governor may return it, with the governor's objections to the legislature.
As a result, the Governor has convened a special session for the purpose of addressing the procedural flaw that may have affected the validity of certain bills, including H.B. No. 1000, H.D. 1, S.D. 2, C.D. 1. Your Committee has met for the purpose of properly passing H.B. No. 3 in substantially the same form that H.B. No. 1400, S.D. 1, C.D. 1, was transmitted to the Governor, except for the following:
(1) In section 3, the reference to H.B. No. 1000, H.D. 1, S.D. 2, C.D. 1, has been replaced by S.B. No. 1, the new Judiciary Appropriations Act of 2001, which is being considered during this special session; and
(2) In section 1, the general fund revenue estimates made by the Council on Revenues reflect the most recent estimates as of May 25, 2001.
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. 3 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,
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____________________________ DWIGHT Y. TAKAMINE, Chair |
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