Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-First State Legislature

Regular Session of 2002

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 1766 entitled:

begs leave to report as follows:

The purpose of this bill is to authorize the issuance of special purpose revenue bonds (SPRBs) to assist Hawaii Pacific Health (HPH) in the acquisition or construction of health care facilities, renovation of existing facilities, acquisition of land, equipment, and technology, and other capital-related projects.

In addition, this bill repeals the prohibition on issuing SPRBs for not-for-profit health care facilities after June 30, 2003.

HPH and the Healthcare Association of Hawaii testified in support of this measure.

As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1766 and recommends that it pass Third Reading.