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 S.B. No. 1872 entitled:

begs leave to report as follows:

The purpose of this bill is to authorize the issuance of up to $20,000,000 in special purpose revenue bonds (SPRB) to assist Palolo Chinese Home and its not-for-profit subsidiaries to finance the expansion, construction, and rebuilding of its health care facilities.

Palolo Chinese Home and a concerned individual testified in support of this bill. The Department of Budget and Finance provided comments.

Your Committee has amended this bill by:

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 S.B. No. 1872, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 1872, H.D. 1, and be placed on the calendar for Third Reading.