STAND. COM. REP. NO. 2764

Honolulu, Hawaii

RE:    S.B. No. 2397

       S.D. 2

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fourth State Legislature

Regular Session of 2008

State of Hawaii

Madam:

     Your Committee on Ways and Means, to which was referred S.B. No. 2397, S.D. 1, 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 measure is to authorize the issuance of special purpose revenue bonds to assist Castle Medical Center and its affiliates with equipment purchases and for the construction and improvement of health care facilities.

     Your Committee received testimony in support of this measure from Healthcare Association of Hawaii and the governing board, the president and chief executive officer, and staff of the Castle Medical Center.

     Your Committee finds that this measure will ensure the continued provision of quality health care services at Castle Medical Center.

     Your Committee has amended this measure by specifying a bond authorization amount of $30,000,000 and by changing the effective date to July 1, 2050 to promote continued discussion of the matter.

     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. 2397, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2397, S.D. 2.

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

____________________________

ROSALYN H. BAKER, Chair