Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Second State Legislature

Regular Session of 2003

State of Hawaii

Sir:

Your Committee on Health, to which was referred H.B. No. 377 entitled:

begs leave to report as follows:

The purpose of this measure is to extend the deadline, from June 30, 2003, to June 30, 2008, to issue special purpose revenue bonds for Pacific Cardiac Institute, Inc.

Pyrus, Incorporated, Wahiawa Hospital Association, and Pacific SportsCare testified in support of this measure. The Department of Budget and Finance submitted comments on this measure.

Your Committee recognizes that Pacific Cardiac Institute, Inc., a not-for-profit Hawaii corporation, is engaged in the development of a health care facility in the Koa Ridge area of Central Oahu and thereby serves the public.

As affirmed by the record of votes of the members of your Committee on Health that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 377 and recommends that it pass Second Reading and be referred to the Committee on Finance.