STAND. COM. REP. NO.  1047

Honolulu, Hawaii

                , 2007

RE:   H.B. No. 1278

      H.D. 1

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fourth State Legislature

Regular Session of 2007

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No. 1278 entitled:

"A BILL FOR AN ACT RELATING TO ENVIRONMENTAL SITE CLEANUP,"

begs leave to report as follows:

     The purpose of this bill is to enable the State to continue to offer low-cost loans to assist eligible borrowers in the cleanup of contaminated properties. 

     Specifically, this bill repeals the sunset date of the Hawaii Brownfields Cleanup Revolving Loan Fund (Revolving Loan Fund) that was scheduled for repeal on June 30, 2007, pursuant to Act 173, Session Laws of Hawaii 2002.  The Revolving Loan Fund assists eligible borrowers with the cleaning of contaminated sites in accordance with federal environmental and hazardous substances pollution guidelines.

The Department of Health, Department of Business, Economic Development, and Tourism, and County of Hawaii testified in support of this bill. 

     Your Committee has amended this bill by changing the effective date to June 29, 2007.

     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. 1278, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 1278, H.D. 1.

Respectfully submitted on behalf of the members of the Committee on Finance,

____________________________

MARCUS R. OSHIRO, Chair