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 S.B. No. 3048, S.D. 2, entitled:

begs leave to report as follows:

The purpose of this bill is to authorize the issuance of special facility revenue bonds to finance a world-class destination visitor attraction on Ford Island to tell the Navy-Marine Corps story in World War II.

The Hawaii Tourism Authority and the Ford Island Development Group, LLC, submitted testimony in support of this bill. The Department of Budget and Finance submitted comments on this bill.

Your Committee has amended this bill by making technical, nonsubstantive changes for purposes of style and clarity.

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 S.B. No. 3048, S.D. 2, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 3048, S.D. 2, H.D. 1, and be placed on the calendar for Third Reading.