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. 2838, H.D. 1, entitled:

begs leave to report as follows:

The purpose of this bill is to promote the development of a hydrogen-based energy economy in Hawaii by allocating $250,000 per year of the State's portion of geothermal royalties to the Department of Business, Economic Development, and Tourism (DBEDT) to fund hydrogen research and development as an energy source.

Hawaii Renewable Energy Alliance testified in support of this measure. DBEDT supported the intent of this measure. The Department of Land and Natural Resources testified in opposition to this measure.

Your Committee has amended this bill by changing the allocated amount to $1 for the purpose of further discussion.

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. 2838, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 2838, H.D. 2.