Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Third State Legislature

Regular Session of 2005

State of Hawaii

Sir:

Your Committee on Energy & Environmental Protection, to which was referred H.B. No. 786 entitled:

begs leave to report as follows:

The purpose of this bill is to provide for the formation of nonprofit energy cooperatives that will generate electricity from renewable energy resources for transmission and sale to its members.

Renewable energy cooperatives are designed to provide those who care about the environment with a vehicle for pooling resources for the generation of renewable energy. This bill also supports the development of renewable energy resources by authorizing the Director of Finance to issue revenue bonds to renewable energy cooperatives for construction and upgrading transmission facilities, and the acquisition of rights-of-way for transmission lines.

Your Committee has amended the bill by authorizing renewable energy cooperatives to:

Technical, nonsubstantive amendments were also made to the bill for purposes of clarity and style.

As affirmed by the record of votes of the members of your Committee on Energy & Environmental Protection that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 786, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 786, H.D. 1, and be referred to the Committee on Consumer Protection & Commerce.