STAND. COM. REP. NO.  517

Honolulu, Hawaii

                , 2009

RE:   H.B. No. 426

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fifth State Legislature

Regular Session of 2009

State of Hawaii

Sir:

     Your Committee on Energy & Environmental Protection, to which was referred H.B. No. 426 entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST SEAWATER AIR CONDITIONING PROJECTS ON OAHU,"

begs leave to report as follows:

     The purpose of this bill is to reduce Hawaii's dependence on imported fossil fuels and encourage sustainability through the use of renewable or efficient energy systems by authorizing the issuance of $30,000,000 in special purpose revenue bonds to assist Honolulu Seawater Air Conditioning, LLC, in the design and construction of its seawater air conditioning district cooling project.

     The Honolulu Seawater Air Conditioning, LLC, and Hawaii Building and Construction Trades Council, AFL-CIO, testified in support of this bill.

     As affirmed by the record of votes of the members of your Committee on Energy & Environmental Protection that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 426 and recommends that it pass Second Reading and be referred to the Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Energy & Environmental Protection,

____________________________

HERMINA MORITA, Chair