STAND. COM. REP. NO.  2135

Honolulu, Hawaii

                , 2007

RE:   S.B. No. 1210

      S.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 S.B. No. 1210, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO HEALTH CARE FACILITIES,"

begs leave to report as follows:

     The purpose of this bill is to support the development of housing for senior citizens by:

     (1)  Increasing the special purpose revenue bond (SPRB) authorization for Honolulu Neighborhood Housing Services, Inc., from $80,000,000 to $160,000,000 for planning, designing, and constructing a senior citizen lifecare retirement community; and

     (2)  Extending the lapse date for the issuance of the SPRBs to June 30, 2011.

     GMR LLC, supported this bill.

     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 S.B. No. 1210, S.D. 1, and recommends that it pass Third Reading.

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

____________________________

MARCUS R. OSHIRO, Chair