Honorable Robert Bunda

President of the Senate

Twenty-First State Legislature

Regular Session of 2002

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred S.B. No. 3048, S.D. 1, entitled:

begs leave to report as follows:

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

Your Committee believes that the key to increasing the performance of the tourism industry is the creation of more attractions. Such an attraction is the development of Hawaii as an international center of learning for World War II history, which may be viewed as a new growth industry.

Your Committee has amended this measure by changing the bond authorization from revenue bonds to special facility revenue bonds and by changing the authorization amount to a blank amount.

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 S.B. No. 3048, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 3048, S.D. 2.