Honorable Robert Bunda

President of the Senate

Twenty-First State Legislature

Regular Session of 2001

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred H.B. No. 369, H.D. 2, S.D. 1, entitled:

begs leave to report as follows:

The purpose of this measure is to authorize the issuance of up to $2,500,000 in special purpose revenue bonds to assist Environmental Recycling Technologies, Inc., in the planning, design, construction, and operation of a used oil and petroleum waste-to-energy facility at Kapolei, Oahu.

This measure also gives the Department of Budget and Finance the authority to issue refunding special purpose revenue bonds at any time economically appropriate, including after the lapse date of this measure.

Your Committee finds that an estimated 750,000 gallons of used fuel oil is currently being shipped out of State because Hawaii lacks the technology to convert the used oil into a more serviceable diesel fuel product. The recycling facility proposed in this measure would convert those wasted resources into a useful commodity, and provide both economic and environmental benefits for the State.

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. 369, H.D. 2, S.D. 1, and recommends that it pass Third Reading.