Bill Text: HI SB2598 | 2012 | Regular Session | Amended
Bill Title: Charter Schools; Constitutional Amendment
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Engrossed - Dead) 2012-03-08 - (H) Referred to EDN, JUD, FIN, referral sheet 41 [SB2598 Detail]
Download: Hawaii-2012-SB2598-Amended.html
STAND. COM. REP. NO. 2097
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 Committees on Education and Judiciary and Labor, 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,"
beg leave to report as follows:
The purpose and intent of this measure is to propose constitutional 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 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 Committees received testimony in support of this measure from the Charter School Administrative Office, Office of Hawaiian Affairs, Hawaii Association of Independent Schools, Hawaii Public Charter School Network, Lei Ho‘olaha Community Development Financial Institution, Kanu O Ka ‘Aina Learning ‘Ohana, Hawaii Technology Academy, and Voyager School Foundation. Your Committees received comments on this measure from the Department of Budget and Finance.
Your Committees find that funding for facilities is one of the charter school system's greatest needs. However, your Committees recognize the concerns raised by the Department of Budget and Finance and request that as this measure progresses, the Department provide clarification on whether:
(1) The organizations specified in this measure would qualify under federal law for tax-exempt financing; and
(2) There is any funding mechanism to ensure adequate debt coverage for the issuance of special purpose revenue bonds on behalf of charter schools.
As affirmed by the records of votes of the members of your Committees on Education and Judiciary and Labor that are attached to this report, your Committees are in accord with the intent and purpose of S.B. No. 2598 and recommend that it pass Second Reading and be referred to the Committee on Ways and Means.
Respectfully submitted on behalf of the members of the Committees on Education and Judiciary and Labor,
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____________________________ CLAYTON HEE, Chair |
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____________________________ JILL TOKUDA, Chair |
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