STAND. COM. REP. NO. 402
Honolulu, Hawaii
S.D. 1
President of the Senate
Twenty-Fifth State Legislature
State of Hawaii
Madam:
Your Committee on Energy and Environment, to which was referred S.B. No. 1633 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 farm power plant on the island of Oahu.
Your Committee received testimony in support of this measure from three private organizations. Your Committee received testimony with comments from the Department of Budget and Finance. Written testimony presented to the Committee may be reviewed on the Legislature's website.
Your Committee finds that it is in the best interest of the State to develop a greater generating capacity for solar-generated electricity, which is a clean energy technology from a renewable and abundant resource, the sun. Your Committee further finds that the incorporation of EPOD Solar Hawaii, Inc., a subsidiary of EPOD Solar, Inc., in the State will serve the best interests of the State by generating new tax revenue. Your Committee finds that the issuance of special purpose revenue bonds under this measure will help Hawaii achieve its clean energy goals and reduce dependence on foreign oil.
Your Committee has amended this measure by:
(1) Providing that in addition to a solar power farm, EPOD Solar Hawaii, Inc. intends to use the funding provided to construct a solar panel manufacturing plant;
(2) Providing that in addition to the island of Oahu, EPOD Solar Hawaii, Inc. may construct the proposed projects on various islands throughout the State of Hawaii;
(3) Clarifying that EPOD Solar Hawaii, Inc. will incorporate in the State of Hawaii by February 27, 2009; and
(4) Making technical, nonsubstantive amendments.
As affirmed by the record of votes of the members of your Committee on Energy and Environment that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1633, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 1633, S.D. 1, and be referred to the Committee on Ways and Means.
Respectfully submitted on behalf of the members of the Committee on Energy and Environment,
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MIKE GABBARD, Chair |
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