STAND. COM. REP. NO. 695
Honolulu, Hawaii
RE: S.B. No. 1633
S.D. 2
Honorable Colleen Hanabusa
President of the Senate
Twenty-Fifth State Legislature
Regular Session of 2009
State of Hawaii
Madam:
Your Committee on Ways and Means, to which was referred S.B. No. 1633, S.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST EPOD, INC., IN THE DEVELOPMENT OF RENEWABLE ENERGY ON THE ISLAND OF OAHU,"
begs leave to report as follows:
The purpose of this measure is to authorize the Department of Budget and Finance to issue special purpose revenue bonds, in an amount not to exceed $20,000,000, for the purpose of assisting EPOD, Inc. with the planning, design, construction, equipping, and operating of a solar panel manufacturing plant and solar farm power plant on the island of Oahu and other islands throughout the State.
Your Committee finds that the development of solar energy technology represents a clean, renewable source of electricity. Your Committee believes that the issuance of special purpose revenue bonds to assist EPOD, Inc. in the development of renewable energy projects on Oahu will support the renewable energy goals of the State.
Your Committee has amended this measure by:
(1) Changing the amount of special purpose revenue bonds being issued from $20,000,000 to an unspecified amount;
(2) Changing the effective date to July 1, 2090, to facilitate further discussion on the measure; and
(3) Making technical, nonsubstantive amendments for consistency and clarity.
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. 1633, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 1633, S.D. 2.
Respectfully submitted on behalf of the members of the Committee on Ways and Means,
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____________________________ DONNA MERCADO KIM, Chair |
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