STAND. COM. REP. NO.  535-14

Honolulu, Hawaii

                , 2014

RE:   H.B. No. 1730

      H.D. 1

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Seventh State Legislature

Regular Session of 2014

State of Hawaii

Sir:

     Your Committee on Energy & Environmental Protection, to which was referred H.B. No. 1730 entitled:

"A BILL FOR AN ACT AUTHORIZING THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS FOR PACIFIC POWER GROUP, LLC, A UTILITY SERVING THE GENERAL PUBLIC IN PROVIDING ELECTRIC ENERGY,"

begs leave to report as follows:

The purpose of this measure is to increase Hawaii's energy security by authorizing the issuance of special purpose revenue bonds to assist Pacific Power Group, LLC, a utility serving the general public in providing electric energy, to install renewable energy projects in the State of Hawaii.

Pacific Power Group, LLC testified in support of this measure.  The Department of Budget and Finance commented on this measure.

     Your Committee has amended this measure by:

     (1)  Changing the description of Pacific Power Group, LLC, from a utility to a renewable energy developer serving the general public in providing renewable electric energy; and

     (2)  Changing the effective date to July 1, 2345, to encourage further discussion.

     Your Committee respectfully asks the Committee on Finance to facilitate discussion to clarify, among other things, the details of the project for which the special purpose revenue bonds for Pacific Power Group, LLC are being issued.

     As affirmed by the record of votes of the members of your Committee on Energy & Environmental Protection that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1730, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 1730, H.D. 1, and be referred to the Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Energy & Environmental Protection,

____________________________

CHRIS LEE, Chair