STAND. COM. REP. NO.  1024

Honolulu, Hawaii

                , 2007

RE:   H.B. No. 211

      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. 211 entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST NOT-FOR-PROFIT CORPORATIONS THAT PROVIDE HEALTH CARE FACILITIES TO THE GENERAL PUBLIC,"

begs leave to report as follows:

     The purpose of this bill is to extend from June 30, 2008, to June 30, 2012, the date on which the authorization to issue special purpose revenue bonds to assist the Queen's Health Systems is to lapse.

     The Healthcare Association of Hawaii testified in support of this bill.  The Queen's Health Systems and The Queen's Medical Center supported this measure with amendments.

     Your Committee has amended this bill by:

     (1)  Changing the effective date to June 30, 2008; and

     (2)  Changing the lapse date to June 30, 2013.

     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. 211, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 211, H.D. 1.

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

____________________________

MARCUS R. OSHIRO, Chair