Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Second State Legislature

Regular Session of 2004

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 1071, H.D. 1, entitled:

begs leave to report as follows:

The purpose of this bill is to promote the conversion of overhead utility lines to underground lines by:

(1) Establishing the Underground Conversion Fund (Fund); and

Na Leo Pohai, the Kaneohe Outdoor Circle, Lanikai Committee for Underground Utilities, and an individual supported this bill. The Public Utilities Commission supported the intent of this bill. The Department of Budget and Finance opposed this bill. The Department of Taxation, the Consumer Advocate, Tax Foundation of Hawaii, and Verizon Hawaii submitted comments.

Your Committee has amended this bill by:

(1) Changing the effective date to July 1, 2010; and

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. 1071, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 1071, H.D. 2.