STAND. COM. REP. NO. 891-06
Honolulu, Hawaii
, 2006
RE: H.B. No. 3077
H.D. 1
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-Third State Legislature
Regular Session of 2006
State of Hawaii
Sir:
Your Committee on Finance, to which was referred H.B. No. 3077 entitled:
"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST ROSETTE STEEL HAWAII,"
begs leave to report as follows:
The purpose of this bill is to authorize the issuance of special purpose revenue bonds (SPRB) to assist Rosette Steel Hawaii with technology-based manufacturing of steel products for the construction industry to assist in the development of affordable housing in Hawaii.
Rosette Steel Hawaii, LLC, testified in support of this bill. The Department of Budget and Finance offered comments.
Your Committee has amended this bill by:
(1) Lowering the SPRB authorization from $15,000,000 to $10,000,000;
(2) Changing the effective date to July 1, 2020, to encourage further discussion; and
(3) Making technical, nonsubstantive amendments for clarity, consistency, and style.
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. 3077, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 3077, H.D. 1.
Respectfully submitted on behalf of the members of the Committee on Finance,
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____________________________ DWIGHT TAKAMINE, Chair |
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