STAND. COM. REP. NO. 1251

Honolulu, Hawaii

RE:    H.B. No. 1388

       H.D. 1

       S.D. 1

Honorable Donna Mercado Kim

President of the Senate

Twenty-Seventh State Legislature

Regular Session of 2013

State of Hawaii

Madam:

     Your Committee on Ways and Means, to which was referred H.B. No. 1388, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST A PROCESSING ENTERPRISE,"

begs leave to report as follows:

     The purpose and intent of this measure is to authorize the issuance of special purpose revenue bonds to assist Sunrise Capital, Inc., a pathogen-free shrimp hatchery.

     More specifically, this measure authorizes issuance of special purpose revenue bonds in an unspecified amount to assist Sunrise Capital, Inc., for the planning, design, and construction of a two-phase project to protect their current packing facility and relocating the packing facility and salt water well further inland.

     Your Committee received written comments on this measure from the Department of Budget and Finance.

     Your Committee has amended this measure by changing the unspecified bond amount to $1,300,000.

     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 H.B. No. 1388, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 1388, H.D. 1, S.D. 1.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

____________________________

DAVID Y. IGE, Chair