STAND. COM. REP. NO. 1441

Honolulu, Hawaii

RE:    H.B. No. 334

       H.D. 1

       S.D. 1

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fourth State Legislature

Regular Session of 2007

State of Hawaii

Madam:

     Your Committee on Ways and Means, to which was referred H.B. No. 334, H.D. 1, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST SOPOGY INC., IN THE DEVELOPMENT OF RENEWABLE ENERGY,"

begs leave to report as follows:

     The purpose of this measure is to authorize the issuance of special purpose revenue bonds to assist Sopogy, Inc.

The bonds, in the amount of $10,000,000, will be used by Sopogy, Inc., to construct a solar farm power plant at the Natural Energy Laboratory of Hawaii Authority or other suitable site.

     Your Committee received comments supporting the measure from the Department of Business, Economic Development and Tourism, the University of Hawaii's Hawaii Energy Policy Forum, and the Hawaii Renewable Energy Alliance.

     Your Committee finds that Sopogy, Inc., specializes in the development, manufacture, and distribution of its proprietary concentrated solar power systems.  The construction of a solar farm power plant by Sopogy, Inc. at the Natural Energy Laboratory of Hawaii Authority on the island of Hawaii, would demonstrate how electricity could be produced by using solar power systems.

     As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 334, H.D. 1, S.D. 1, and recommends that it pass Third Reading.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

____________________________

ROSALYN H. BAKER, Chair