Bill Text: HI HB562 | 2012 | Regular Session | Amended

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Bill Title: State Bonds; Investments

Spectrum: Partisan Bill (Democrat 5-0)

Status: (Engrossed - Dead) 2011-12-01 - Carried over to 2012 Regular Session. [HB562 Detail]

Download: Hawaii-2012-HB562-Amended.html

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STAND. COM. REP. NO.  663

 

Honolulu, Hawaii

                , 2011

 

RE:   H.B. No. 562

      H.D. 1

 

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Sixth State Legislature

Regular Session of 2011

State of Hawaii

 

Sir:

 

     Your Committee on Finance, to which was referred H.B. No. 562 entitled:

 

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

 

begs leave to report as follows:

 

     The purpose of this bill is to allow the Director of Finance to invest excess non-general fund monies in any state issued general obligation bond or interest bearing note or other obligation, under certain conditions.

 

     The Department of Budget and Finance submitted comments.

 

     Your Committee has amended this measure by:

 

     (1)  Changing its effective date to July 1, 2030, to encourage further discussion; and

 

     (2)  Making technical, nonsubstantive amendments for style, clarity, and consistency.

 

     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. 562, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 562, H.D. 1, and be placed on the calendar for Third Reading.

 

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

 

 

		____________________________ MARCUS R. OSHIRO, Chair