STAND. COM. REP. NO. 1481

                                   Honolulu, Hawaii
                                                     , 1999

                                   RE:  H.B. No. 806
                                        H.D. 2
                                        S.D. 2




Honorable Norman Mizuguchi
President of the Senate
Twentieth State Legislature
Regular Session of 1999
State of Hawaii

Sir:

     Your Committee on Ways and Means, to which was referred H.B.
No. 806, H.D. 2, S.D. 1, entitled: 

     "A BILL FOR AN ACT RELATING TO LAND EXCHANGE,"

begs leave to report as follows:

     The purpose of this bill is to authorize a land exchange in
Kona to develop a new motor speedway industry on the island of
Hawaii.

     Specifically, this measure authorizes the exchange of state
lands in North Kona for private lands along the Kona coast.

     Your Committee finds that the state lands in North Kona are
ideally suited to the development and operation of an
international motor speedway.  The introduction of the racing
industry to the Big Island will further diversify the economy of
the Big Island and the state as a whole.

     Your Committee has amended this measure by changing the
effective date to July 1, 2020, in order to encourage continued
discussion on the matter.

     As affirmed by the record of votes of the members of your
Committee on Ways and Means that is attached to this report, your
Committee is in accord with the intent and purpose of H.B.

 
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                                   STAND. COM. REP. NO. 1481
                                   Page 2


No. 806, H.D. 2, S.D. 1, as amended herein, and recommends that
it pass Third Reading in the form attached hereto as H.B.
No. 806, H.D. 2, S.D. 2.

                                 Respectfully submitted on behalf
                                 of the members of the Committee
                                 on Ways and Means,



                                 ________________________________
                                 CAROL FUKUNAGA, Co-Chair



                                 ________________________________
                                 ANDREW LEVIN, Co-Chair

 
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