Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Second State Legislature

Regular Session of 2004

State of Hawaii

Sir:

Your Committee on Energy and Environmental Protection, to which was referred H.B. No. 468, H.D. 1, entitled:

begs leave to report as follows:

The purpose of this bill is to authorize the issuance of special purpose revenue bonds to assist Ocean Engineering and Energy Systems, Inc., with the construction, operation, and other related costs of a Kalina cycle ocean thermal energy conversion plant at the Natural Energy Labratory of Hawaii.

Ocean Engineering and Energy Systems International, Inc., and a concerned individual supported this bill. The Natural Energy Laboratory of Hawaii provided comments.

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. 468, H.D. 1, and recommends that it pass Second Reading and be referred to the Committee on Finance.