CONFERENCE COMMITTEE REP

CONFERENCE COMMITTEE REP. NO.137

Honolulu, Hawaii

, 2005

RE: H.B. No. 1556

H.D. 1

S.D. 1

C.D. 1

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Third State Legislature

Regular Session of 2005

State of Hawaii

Honorable Robert Bunda

President of the Senate

Twenty-Third State Legislature

Regular Session of 2005

State of Hawaii

Sir:

Your Committee on Conference on the disagreeing vote of the House of Representatives to the amendments proposed by the Senate in H.B. No. 1556, H.D. 1, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST INDUSTRIAL ENTERPRISES,"

having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.

The purpose of this bill is to support business in the state by authorizing the issuance of special purpose revenue bonds (SPRB) to assist PLK Air Services Group LLC, in planning, designing, constructing, equipping, and furnishing a Kona coffee and macadamia manufacturing facility and air cargo logistics and fulfillment center at Kona International Airport.

Your Committee on Conference has amended this measure by:

(1) Specifying that the Department of Budget and Finance is authorized to issue, in one or more series, SPRBs in a total amount not to exceed $25,000,000; and

(2) Changing the effective date to July 1, 2005.

As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of H.B. No. 1556, H.D. 1, S.D. 1, as amended herein, and recommends that it pass Final Reading in the form attached hereto as H.B. No. 1556, H.D. 1, S.D. 1, C.D. 1.

Respectfully submitted on behalf of the managers:

ON THE PART OF THE SENATE

ON THE PART OF THE HOUSE

____________________________ LORRAINE R. INOUYE, Chair		____________________________ JOSEPH M. SOUKI, Co-Chair
____________________________ RUSSELL S. KOKUBUN, Co-Chair		____________________________ FELIPE P. ABINSAY, JR., Co-Chair
____________________________ BRIAN T. TANIGUCHI, Co-Chair		____________________________ CINDY EVANS, Co-Chair