STAND. COM. REP. NO. 8

Honolulu, Hawaii

RE:    S.B. No. 1674

       S.D. 1

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fifth State Legislature

Regular Session of 2009

State of Hawaii

Madam:

     Your Committee on Higher Education, to which was referred S.B. No. 1674 entitled:

"A BILL FOR AN ACT RELATING TO THE UNIVERSITY OF HAWAII,"

begs leave to report as follows:

     The purpose of this measure is to amend Act 161, Session Laws of Hawaii 2007, to:

     (1)  Increase the revenue bonds authorized by Act 161 from $100,000,000 to $150,000,000; and

     (2)  Extend the lapse dates of the appropriations from the revenue bonds to June 30, 2013, for the initial $100,000,000 authorization, and to June 30, 2015, for the additional $50,000,000 authorization.

Testimony in support of this measure was submitted by the University of Hawaii and the Pacific Resource Partnership.

     Your Committee finds that the additional bond issuance authorization in this measure will enable the University to address its growing facility needs and major repair and maintenance requirements in a timelier manner.  These include an estimated $202,000,000 in projects that the Board of Regents has approved as projects for which the revenue bond proceeds may be used.

     Your Committee has amended this measure by:

     (1)  Deleting the specific listed projects to be financed through the revenue bonds to allow the University more flexibility in determining the final priority list; and

     (2)  Requiring the University to include a detailed listing and description of all projects to be funded through the revenue bonds as part of its notification to the Legislature of the issuance of the additional revenue bonds.

     As affirmed by the record of votes of the members of your Committee on Higher Education that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1674, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 1674, S.D. 1, and be referred to the Committee on Ways and Means.

Respectfully submitted on behalf of the members of the Committee on Higher Education,

____________________________

JILL TOKUDA, Chair