Honorable Robert Bunda

President of the Senate

Twenty-Second State Legislature

Regular Session of 2004

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred S.B. No. 2128 entitled:

begs leave to report as follows:

The purpose of this measure is to extend the authorization of special purpose revenue bonds to finance a commercial production facility for the conversion of bagasse and other biomass to energy products.

Your Committee finds that Worldwide Energy Group, the beneficiaries of the special purpose revenue bonds, has encountered difficulties completing the project development on schedule. Considering that the facility will assist the sugar industry to sustain jobs and enhance the agricultural industry, this extension is warranted and in the public interest.

As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2128 and recommends that it pass Third Reading.