STAND. COM. REP. NO. 701

Honolulu, Hawaii

RE:    S.B. No. 393

       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. 393, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO SPECIAL PURPOSE REVENUE BONDS TO ASSIST ONE PLANET PACIFIC ENERGY, LLC, A PROCESSING ENTERPRISE,"

begs leave to report as follows:

     The purpose of this measure is to authorize the issuance of special purpose revenue bonds in the amount of $40,000,000 to assist One Planet Pacific Energy, LLC.

     One Planet Pacific Energy, LLC, proposes to construct a five hundred ton per day gasification facility to convert solid waste into synthetic gas utilizing material solid waste from the construction and demolition solid waste landfill in Nanakuli on Oahu.

     Your Committee believes that One Planet's proposed gasification project will bring significant benefits to Hawaii by using materials that are currently taking up valuable landfill space and converting them into a source of renewable energy through its synthetic gas production.

     Your Committee has amended this measure by;

     (1)  Changing the authorized amount of special purpose revenue bonds to be issued to an unspecified amount;

     (2)  Changing the effective date to July 1, 2050, to facilitate further discussion; and

     (3)  Making technical nonsubstantive amendments for the purposes of clarity and style.

     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. 393, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 393, 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