Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Third State Legislature

Regular Session of 2005

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 1556 entitled:

begs leave to report as follows:

The purpose of this bill is to support business in the state by authorizing the issuance of special purpose revenue bonds 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.

The Department of Budget and Finance and Kona Pacific Farmers Cooperative offered comments on this bill.

Your Committee has amended this bill by changing the lapsing and effective dates to June 30, 2010, to encourage further discussion.

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. 1556, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 1556, H.D. 1.