STAND. COM. REP. NO. 849
Honolulu, Hawaii
RE: S.B. No. 1948
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 S.B. No. 1948 entitled:
"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS FOR PROJECTS ON THE ISLAND OF HAWAII,"
begs leave to report as follows:
The purpose of this measure is to extend from June 30, 2007 to June 30, 2011 the lapse date for the authorization to issue special purpose revenue bonds to assist Hui 'Enekinia Hawai'i, an industrial enterprise.
Your Committee received comments in support of the measure from Hui 'Enekinia Hawai'i.
Your Committee finds that special purpose revenue bonds to assist Hui 'Enekinia Hawai'i were originally authorized in 1993. The lapse date for the authorization of those bonds were subsequently extended to June 30, 2007.
Your Committee further finds that Hui 'Enekinia Hawai'i is still engaged in the development of a cogeneration facility project that will sell the electric energy that it produces to electric utilities that serve the public, and will sell the thermal fluids that it produces to existing and planned manufacturing and processing entrepreneurs in the area. Your Committee finds it is in the public interest to encourage the development of such cogeneration facilities.
Your Committee has amended this measure by making technical nonsubstantive amendments for purposes of clarity and style.
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 S.B. No. 1948, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 1948, S.D. 1, and be placed on the calendar for Third Reading.
Respectfully submitted on behalf of the members of the Committee on Ways and Means,
|
|
|
____________________________ ROSALYN H. BAKER, Chair |
|
|
|
|