STAND. COM. REP. NO. 313

                                 Honolulu, Hawaii
                                                   , 1999

                                 RE: H.B. No. 718
                                     




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

Sir:

     Your Committee on Water and Land Use, to which was referred
H.B. No. 718 entitled: 

     "A BILL FOR AN ACT RELATING TO THE HAWAII COMMUNITY
     DEVELOPMENT AUTHORITY,"

begs leave to report as follows:

     The purpose of this bill is to amend the bonding authority
of the Hawaii Community Development Authority by consolidating
three existing bonding capabilities by the Hawaii Community
Development Authority, authorizing the issuance of $250,000,000
in revenue bonds and authorize the issuance of revenue bonds for
the relocation of the Food Distribution Center.  

     Your Committee received testimony in support of this bill
from the Hawaii Community Development Authority and offering
comment on this bill from the Department of Taxation.  

     Your Committee finds that the bill would enhance the Hawaii
Community Development Authority's ability to undertake its
redevelopment duties in Kakaako.  

     As affirmed by the record of votes of the members of your
Committee on Water and Land Use that is attached to this report,
your Committee is in accord with the intent and purpose of H.B.
No. 718 and recommends that it pass Second Reading and be
referred to the Committee on Finance.


 
 
 
                                 STAND. COM. REP. NO. 313
                                 Page 2

 
                                   Respectfully submitted on
                                   behalf of the members of the
                                   Committee on Water and Land
                                   Use,



                                   ______________________________
                                   Romy M. Cachola, Chair