STAND. COM. REP. NO.  598-14

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 Finance, to which was referred H.B. No. 1730, H.D. 1, 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, in serving the general public by installing renewable energy projects in the State of Hawaii.

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

     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 H.B. No. 1730, H.D. 1, and recommends that it pass Third Reading.

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

____________________________

SYLVIA LUKE, Chair