STAND. COM. REP. NO. 1244

                                   Honolulu, Hawaii
                                                     , 1999

                                   RE:  H.B. No. 973
                                        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. 973, 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 Sports Medicine &
Research Center, Inc., a not-for-profit corporation that provides
health care facilities.

     Your Committee finds that the issuance of special purpose
revenue bonds will help a not-for-profit Hawaii corporation like
the Pacific Sports Medicine & Research Center, Inc., engage in
land acquisition or lease, purchase capital equipment, and
design, construct, and operate a health care facility.  Your
Committee finds that the growth of the population on Oahu
necessitates expansion of health care facilities.  The population
is moving away from urban Honolulu and into the Wahiawa,
Mililani, central Oahu areas.  Existing health facilities are
concentrated in the urban Honolulu area while the need of health
care facilities now extends beyond the urban boundaries.  With
the authorization provided in this bill, residents of Oahu can

 
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                                   STAND. COM. REP. NO. 1244
                                   Page 2


look forward to having more accessible health care services in
the outlying areas as well.

     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.
973, 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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