STAND. COM. REP. 754
Honolulu, Hawaii
, 2003
RE: H.B. No. 382
H.D. 1
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-Second State Legislature
Regular Session of 2003
State of Hawaii
Sir:
Your Committee on Finance, to which was referred H.B. No. 382 entitled:
"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS FOR NOT-FOR-PROFIT CORPORATIONS THAT PROVIDE HEALTH CARE FACILITIES,"
begs leave to report as follows:
The purpose of this bill is to support the development of a health care facility in Central Oahu. This bill enables the Pacific Women's Center, Inc., to construct a birthing center on Koa Ridge by extending the sunset date of June 30, 2003, to June 30, 2008, for the issuance of $5,000,000 in special purpose revenue bonds previously authorized by Act 291, Session Laws of Hawaii 1999.
Eleven individuals testified in support of this measure. The Department of Budget and Finance (B&F) offered comments.
Your Committee has amended this bill by:
(1) Clarifying that B&F may issue refunding special purpose revenue bonds beyond June 30, 2008; and
(2) Specifying that the refunding special purpose revenue bonds shall apply to any refunding of special purpose revenue bonds authorized in section 2 of Act 291 regardless of whether the special purpose revenue bonds have matured or are the subject of redemption or whether the refunding special purpose revenue bonds are bonds for multi-project programs.
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. 382, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 382, H.D. 1.
Respectfully submitted on behalf of the members of the Committee on Finance,
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____________________________ DWIGHT Y. TAKAMINE, Chair |
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