STAND. COM. REP. NO. 2093

Honolulu, Hawaii

RE:    S.B. No. 2274

       S.D. 1

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fifth State Legislature

Regular Session of 2010

State of Hawaii

Madam:

     Your Committee on Health, to which was referred S.B. No. 2274 entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST HAWAII PACIFIC HEALTH,"

begs leave to report as follows:

     The purpose of this measure is to authorize the issuance of special purpose revenue bonds to assist Hawaii Pacific Health in financing, refinancing, and reimbursing costs related to the acquisition or construction of health care facilities.

     Your Committee received testimony in support of this measure from the Queen's Health Systems, Hawaii Pacific Health, the Healthcare Association of Hawaii, and one individual.  Written testimony presented to the Committee may be reviewed on the Legislature's website.

     Your Committee finds that Hawaii Pacific Health will use the revenues derived from the issuance of special purposed revenue bonds to refinance an existing bank loan issued to refund tax exempt bonds, finance the renovation of its hospital facilities, and purchase medical equipment.

     Your Committee has amended this measure by making technical, nonsubstantive changes to ensure clarity and accuracy in the language of this measure.

     As affirmed by the record of votes of the members of your Committee on Health that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2274, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 2274, S.D. 1, and be referred to the Committee on Ways and Means.

Respectfully submitted on behalf of the members of the Committee on Health,

____________________________

DAVID Y. IGE, Chair