When the Legislature returns from its three week recess next week, Tuala-uta lawmaker Samuel Ioka Meleisea plans to call a hearing concerning the administration bill which gives the Territorial Bank of American Samoa trust power.
Meleisea, who chairs the House Commerce Committee, says he has connected with officials of TBAS concerning the measure which was introduced just before the Fono took a recess.
The faipule returned last week from the Retirement Fund meeting in Honolulu at which reports on the health of the fund were discussed by the investment advisors and consultants.
Meleisea , said he’s hoping there’s be a hearing of the House Retirement Committee for he and colleagues can follow up on some of the information that was presented at the Honolulu meeting.
The Retirement Fund board sought support from the House and Senate Retirement committee members attending their two day meeting in Honolulu for an increase in the employer and employee contributions to the fund so as to improve the Fund’s funded status.
As of the end of the last fiscal year the funded status was 46%.
Rep. Meleisea is also researching the excise tax law following complaints from constituent to he and his colleague Vui Florence Saulo of being charged by Customs on several imported items that they feel are not subject to the excise tax.
Budget and Appropriation Committee Chairman Vailiuama Steve Leasiolagi said in the House chamber before the fono recess that the excise tax law had been misinterpreted.
Vailiuama said his committee will bring in Customs officials and the Treasurer to be questioned about the application of the excise tax law.
