STAND. COM. REP. NO. 503

                                   Honolulu, Hawaii
                                                     , 1999

                                   RE:  S.B. No. 1542
                                        




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

Sir:

     Your Committee on Health and Human Services, 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 to fund the establishment of senior
citizen lifecare retirement communities in the State.

     Testimony in support of the measure was received from the
Honolulu Neighborhood Housing Services and the development firm
of Graham, Murata, Russell.  The Department of Budget and Finance
submitted comments on the measure.

     Your Committee finds that there is a pressing need to
provide affordable, quality lifecare domiciles and services for
Hawaii's aging population.  By authorizing the issuance of
special purpose revenue bonds for this purpose, the State will be
assisting in the provision of low cost financing for projects
that meet this pressing need.

     As affirmed by the record of votes of the members of your
Committee on Health and Human Services 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 Ways and Means.

 
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                                   STAND. COM. REP. NO. 503
                                   Page 2



                                   Respectfully submitted on
                                   behalf of the members of the
                                   Committee on Health and Human
                                   Services,



                                   ______________________________
                                   SUZANNE CHUN OAKLAND, Chair

 
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