Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-First State Legislature

Regular Session of 2001

State of Hawaii

Sir:

Your Committee on Energy and Environmental Protection, to which was referred H.B. No. 1596, entitled:

begs leave to report as follows:

The purpose of this bill is to authorize the issuance of special purpose revenue bonds of up to $25,000,000 to assist Hilo Coast Power Company (HCPC) with the waste-to-energy facility at Pepeekeo on the island of Hawaii.

HCPC submitted testimony in support of this measure. The Department of Business, Economic Development, and Tourism supported the intent of this bill. The Department of Budget and Finance recommended changing the lapse date of the revenue bond to June 30, 2004.

Your Committee has amended this bill by:

As affirmed by the record of votes of the members of your Committee on Energy and Environmental Protection that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1596, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 1596, H.D. 1, and be referred to the Committee on Finance.