STAND. COM. REP. NO. 1044

                                 Honolulu, Hawaii
                                                   , 1999

                                 RE: H.B. No. 1693
                                     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 Finance, to which was referred H.B. No.
1693 entitled: 

     "A BILL FOR AN ACT AUTHORIZING THE ISSUANCE OF SPECIAL
     PURPOSE REVENUE BONDS FOR NOT-FOR-PROFIT CORPORATIONS THAT
     PROVIDE HEALTH CARE FACILITIES,"

begs leave to report as follows:

     The purpose of this bill is to care for Hawaii's aging
population by authorizing the issuance of special purpose revenue
bonds for a senior citizen lifecare retirement community.

     Graham Murata Russell testified in support of this measure.

     Your Committee has amended this measure by making technical,
nonsubstantive amendments for clarity and style.

     As affirmed by the record of votes of the members of your
Committee on Finance that is attached to this report, your
Committee is in accord with the intent and purpose of H.B. No.
1693, as amended herein, and recommends that it pass Third
Reading in the form attached hereto as H.B. No. 1693, H.D. 1.


 
 
 
 
 
 
 
 
                                 STAND. COM. REP. NO. 1044
                                 Page 2

 
                                   Respectfully submitted on
                                   behalf of the members of the
                                   Committee on Finance,



                                   ______________________________
                                   DWIGHT Y. TAKAMINE, Chair