STAND. COM. REP. NO. 388

                                 Honolulu, Hawaii
                                                   , 1999

                                 RE: H.B. No. 1287
                                     H.D. 1




Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twentieth State Legislature
Regular Session of 1999
State of Hawaii

Sir:

     Your Committee on Consumer Protection and Commerce, to which
was referred H.B. No. 1287 entitled: 

     "A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL
     PURPOSE REVENUE BONDS TO ASSIST THE GAS UTILITY SERVING THE
     GENERAL PUBLIC,"

begs leave to report as follows:

     The purpose of this bill is to reduce the gas rates for the
general public by authorizing the issuance of $19,600,000 in
special purpose revenue bonds for capital improvement programs
for the local furnishing of utility gas by The Gas Company, a
division of Citizens Utilities Company.  The bill also authorizes
issuance of refunding special purpose revenue bonds.

     Testimony in support of this bill was received from The Gas
Company and the Department of Budget and Finance (Department).
The Department suggested an amendment of the date in section 4,
so as to make the provision consistent with dates in sections 2
and 6.
     Your Committee concurs with the amendment recommended by the
Department, and has amended the date in section 4, changing
"December 31, 1999" to "December 31, 2002".

     As affirmed by the record of votes of the members of your
Committee on Consumer Protection and Commerce that is attached to
this report, your Committee is in accord with the intent and
purpose of H.B. No. 1287, as amended herein, and recommends that

 
 
 
                                 STAND. COM. REP. NO. 388
                                 Page 2

 
it be referred to the Committee on Finance, in the form attached
hereto as H.B. No. 1287, H.D. 1.

                                   Respectfully submitted on
                                   behalf of the members of the
                                   Committee on Consumer
                                   Protection and Commerce,



                                   ______________________________
                                   RON MENOR, Chair