Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Second State Legislature

Regular Session of 2003

State of Hawaii

Sir:

Your Committee on Energy and Environmental Protection, to which was referred H.B. No. 532 entitled:

begs leave to report as follows:

The purpose of this bill is to protect the State from price volatility in energy markets and to provide for diversity in sources and fuels used to provide electricity, while providing predictable state energy budgets.

Specifically, this bill authorizes the issuance of revenue bonds in a total amount not to exceed $100,000,000. The revenue bonds are to be used to finance the acquisition, construction, rehabilitation, installation, and improvement of solar energy facilities and equipment, energy conservation facilities and equipment, and renewable energy facilities and equipment for various agencies, departments, and enterprises of the State.

The Sierra Club, Hawaii Chapter, the Vote Solar Initiative, Solar Energy Association, and Hawaii Renewable Energy Alliance testified in support of this bill. The Department of Business, Economic Development, and Tourism supported the intent of this bill.

As affirmed by the record of votes of the members of your Committee on Energy and Environmental Protection that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 532 and recommends that it pass Second Reading and be referred to the Committee on Finance.