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. 2057 entitled:

begs leave to report as follows:

The purpose of this bill is to authorize the issuance of special purpose bonds to assist Covanta Honolulu Resource Recovery Venture, the operator of the HPOWER plant, with a new boiler, pollution control equipment, and associated equipment for the expansion of the HPOWER plant.

Covanta Energy Group testified in support of this bill. The Department of Budget and Finance provided comments.

Your Committee has amended this bill by:

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. 2057, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 2057, H.D. 1, and be placed on the calendar for Third Reading.