STAND. COM. REP. NO. 1173_______

                                 Honolulu, Hawaii
                                                   , 1999

                                 RE: S.B. No. 1542
                                     




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

Sir:

     Your Committee on Health, to which was referred S.B. No.
1542 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 measure is to authorize the issuance of
special purpose revenue bonds for a senior citizen lifecare
retirement community. 

     Testimony in support of this measure was received from the
company of Graham Murata Russell.  The Department of Budget and
Finance submitted technical commentary. 

     As affirmed by the record of votes of the members of your
Committee on Health that is attached to this report, your
Committee is in accord with the intent and purpose of S.B. No.
1542 and recommends that it pass Second Reading and be referred
to the Committee on Finance.


 
 
 
 
 
 
 
 
 
                                 STAND. COM. REP. NO. 1173_______
                                 Page 2

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



                                   ______________________________
                                   ALEXANDER C. SANTIAGO, Chair