STAND. COM. REP. NO.  785-08

Honolulu, Hawaii

                , 2008

RE:   H.B. No. 2271

      H.D. 1

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fourth State Legislature

Regular Session of 2008

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No. 2271 entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST CASTLE MEDICAL CENTER AND ITS AFFILIATES,"

begs leave to report as follows:

     The purpose of this bill is to authorize the issuance of special purpose revenue bonds in a total amount not to exceed an unspecified dollar amount to assist Castle Medical Center in financing and refinancing equipment purchases, and the construction and improvement of health care facilities in the State of Hawaii.

     The Healthcare Association of Hawaii, Castle Medical Center, Governing Board of Castle Medical Center, and several concerned individuals testified in support of this bill.  The Department of Budget and Finance commented on this measure.

     Your Committee has amended this bill by:

     (1)  Changing its effective date to July 1, 2020, to encourage further discussion; and

     (2)  Making technical, nonsubstantive amendments for clarity, consistency, and style.

     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. 2271, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 2271, H.D. 1.

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

____________________________

MARCUS R. OSHIRO, Chair