STAND. COM. REP. NO. 2754

 

Honolulu, Hawaii

                  

 

RE:    S.B. No. 2598

 

 

 

Honorable Shan S. Tsutsui

President of the Senate

Twenty-Sixth State Legislature

Regular Session of 2012

State of Hawaii

 

Sir:

 

     Your Committee on Ways and Means, to which was referred S.B. No. 2598 entitled:

 

"A BILL FOR AN ACT PROPOSING AMENDMENTS TO THE HAWAII STATE CONSTITUTION RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS,"

 

begs leave to report as follows:

 

     The purpose and intent of this measure is to propose amendments to article VII, section 12, and article X, section 1, of the Hawaii State Constitution to authorize the State to issue special purpose revenue bonds, and to use the proceeds from those bonds, to assist charter schools, not-for-profit corporations that support charter schools, and community development financial institutions that support charter schools.

 

     Your Committee received written comments in support of this measure from the Office of Hawaiian Affairs.  Your Committee received written comments on this measure from the Department of Budget and Finance.

 

     Your Committee finds that funding for facilities is one of the charter school system's greatest needs.  Your Committee further finds that this measure would establish the constitutional authority to provide an additional method of financing to improve charter schools and the charter school system.

 

     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 S.B. No. 2598 and recommends that it pass Third Reading.

 

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

 

		____________________________ DAVID Y. IGE, Chair