STAND. COM. REP. NO. 2162

Honolulu, Hawaii

RE:    S.B. No. 2959

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fourth State Legislature

Regular Session of 2008

State of Hawaii

Madam:

     Your Committee on Economic Development and Taxation, to which was referred S.B. No. 2959 entitled:

"A BILL FOR AN ACT MAKING AN EMERGENCY APPROPRIATION FOR ELECTRICITY, SEWER, REFUSE, AND INSURANCE PREMIUM PAYMENTS,"

begs leave to report as follows:

     The purpose of this measure is to appropriate $271,852 from the Stadium Special Fund as an emergency appropriation to pay fiscal year 2007-2008 increases in electricity, sewer, refuse, and insurance premium payments for Aloha Stadium.

     Testimony in support of this measure was received from the Department of Accounting and General Services.

     Your Committee finds that this measure is necessary due a number of international and local factors, including steadily increasing world oil prices, increases in tipping and fuel charge fees for refuse disposal, and increases in insurance premiums.

     As affirmed by the record of votes of the members of your Committee on Economic Development and Taxation that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2959 and recommends that it pass Second Reading and be referred to the Committee on Ways and Means.

Respectfully submitted on behalf of the members of the Committee on Economic Development and Taxation,

____________________________

CAROL FUKUNAGA, Chair