HomeMy WebLinkAboutREP FC 047 03/05/1999 1998-2000• REF'C R Ifr OF THE
COMMITTEE; ON FINANCE
DATE:
March 5, 1999
PLACE:
Councilroom
TIME:
10:40 A.M.
Chair and Members
Hawaii County Council
Hilo, Hawaii 96720
Re: Comm. No. 136/Bill No. 37
Your Committee on Finance, to which was referred. Bill No. 37, reports as follows:
Bill No. 37, transmitted by Board of Ethics Chairman Warren Chong, via Communication
No. 136, dated January 25, 1999, amends Chapter 2, Article 15, Section 2-91.1(c), Ha
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County Code, relating to financial disclosures and disclosures of interest.
Given the current stock market boom and the popularity of owning publicly held and traded
stocks the Board of Ethics proposed to amend the Hawaii County Code by requiring those filing
disclosure reports to disclose stock ownership with a value of $5,000 or more, and is equal to to
percent or more of the ownership of the business.
Thero osed amendment in Bill No. 37 was further amended at today's meeting to require the
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disclosure of stock ownership which has a value of $5,000 or more, or is equal to ten percent o
more of the ownership of the business.
Pursuant to Article XIV, Section 14-5, Hawaii County Charter, the Board of Ethics shall propose
revisions to the code of ethics where not inconsistent with the Charter.
Your Committee on Finance is in accord with the purpose and intent of Bill No. 37, as amended
to Draft 2, and recommends it pass first reading.
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Respectfully submitted
COMMITTEE ON FINANCE
AARON S.Y. CHUNG, CHA
FC REPORT NO. 47
ADOPTED: