Honorable Robert Bunda

President of the Senate

Twenty-Second State Legislature

Regular Session of 2003

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred H.B. No. 378, H.D. 1, entitled:

begs leave to report as follows:

The purpose of this measure is to extend the authorization to issue special purpose revenue bonds to increase the availability of health care in the State.

In particular, the bill extends the authority of the Department of Budget and Finance to issue special purpose revenue bonds to assist the Pacific Community Health & Wellness, Inc., in the planning, design, and construction of a health care facility in central Oahu to June 30, 2008. Additionally, this measure authorizes the Department to issue refunding special purpose revenue bonds at any time appropriate, including times subsequent to June 30, 2008.

Your Committee finds that the Pacific Community Health & Wellness, Inc.'s medical mall project in Central Oahu will provide several health care facilities that bring diverse medical and wellness services to central Oahu. The Legislature recognized the need and value of the project in 1999, when it authorized the issuance of special purpose revenue bonds to assist Pacific Community Health & Wellness, Inc., a not-for-profit Hawaii corporation. This measure will enable the completion of the health care facility that will provide needed services to an underserved area of Oahu.

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 H.B. No. 378, H.D. 1, and recommends that it pass Third Reading.