STAND. COM. REP. NO. 1241

                                   Honolulu, Hawaii
                                                     , 1999

                                   RE:  H.B. No. 970
                                        H.D. 1
                                        S.D. 1




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. 970, H.D. 1, S.D. 1, 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 authorize the issuance of
special purpose revenue bonds for Pacific Cardiac Institute,
Inc., a not-for-profit corporation that provides health care
facilities.

     Your Committee finds that the issuance of special purpose
revenue bonds for a not-for-profit corporation that provides
health care facilities will assist an organization like the
Pacific Cardiac Institute, Inc., to acquire or lease land,
acquire and install capital equipment, and plan, design,
construct, and operate a health care facility that serves the
public.  Your Committee further finds that diseases of the heart
and circulatory system continue to rank near or at the top of
disabling and fatal diseases.  Only through diligent research,
rigorous treatment programs and the like will we be able to
successfully reduce the impact of this killer.  Furthermore,
there are not enough facilities on Oahu to adequately treat the

 
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                                   STAND. COM. REP. NO. 1241
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people who have cardiac and circulatory illnesses except perhaps
in the urban areas of Oahu.

     Your Committee finds that the authorization provided in this
bill will serve the public health, welfare, and safety of the
people of this State.

     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. No.
970, H.D. 1, S.D. 1, and recommends that it pass Third Reading.

                                 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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