STAND. COM. REP. NO.  1169-10

Honolulu, Hawaii

                , 2010

RE:   S.B. No. 2544

      S.D. 2

      H.D. 1

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fifth State Legislature

Regular Session of 2010

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred S.B. No. 2544, S.D. 2, entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST HONOLULU SEAWATER AIR CONDITIONING LLC PROJECTS ON THE ISLAND OF OAHU,"

begs leave to report as follows:

     The purpose of this bill is to extend the authorization for the Department of Budget and Finance to issue special purpose revenue bonds to finance the Honolulu Seawater Air Conditioning, LLC, projects on Oahu.

     Honolulu Seawater Air Conditioning, LLC; Hawaii Building and Construction Trades Council, AFL-CIO; and Hawaii Renewable Energy Alliance testified in support of this bill.

     Your Committee has amended this bill by changing the effective date to June 29, 2010.

     As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2544, S.D. 2, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2544, S.D. 2, H.D. 1.

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

____________________________

MARCUS R. OSHIRO, Chair