Honorable Robert Bunda

President of the Senate

Twenty-Third State Legislature

Regular Session of 2005

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred H.B. No. 1556, H.D. 1, entitled:

begs leave to report as follows:

The purpose of this measure is to authorize the issuance of special purpose revenue bonds for PLK Air Services Group LLC.

Your Committee finds that PLK Air Services Group LLC plans to develop a Kona coffee and macadamia manufacturing facility and air cargo logistics and fulfillment center at Kona International Airport. Your Committee finds that this proposed project constitutes an industrial enterprise as defined in Part V, Chapter 39A, Hawaii Revised Statutes. Further, this project will benefit local coffee and macadamia farmers by providing them with another potential purchaser of their products.

Your Committee has amended this measure by changing the amount of authorized revenue bonds that may be issued.

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