STAND. COM. REP. NO. 723

Honolulu, Hawaii

RE:    S.B. No. 597

       S.D. 2

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. 597, 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 for Sopogy, Inc.

Specifically, the measure assists Sopogy, Inc. with the planning, designing, construction, equipping, and operating of a solar farm power plant at the Natural Energy Laboratory of Hawaii Authority in Keahole, Hawaii.

     Your Committee received comments in support of this measure from the Department of Business, Economic Development, and Tourism, Natural Energy Laboratory of Hawaii Authority, Hawaii Renewable Energy Alliance, and Hawaii Energy Policy Forum.

     Your Committee finds that Sopogy,Inc. has experienced successes in the development of solar farm power plants to generate electricity.  The Natural Energy Laboratory of Hawaii Authority in sun-baked Keahole, Hawaii, is an ideal location for the development of a solar farm power plant to demonstrate how electricity could be produced by using solar power systems in Hawaii.  Sunlight provides a clean and renewable source of energy to produce thermal and electrical energy.

     Your Committee has amended this measure by making technical nonsubstantive changes for purposes of clarity and consistency.

     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. 597, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 597, S.D. 2.

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

____________________________

ROSALYN H. BAKER, Chair