STAND. COM. REP. NO.  713-14

Honolulu, Hawaii

                , 2014

RE:   H.B. No. 2543

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. 2543 entitled:

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

begs leave to report as follows:

The purpose of this measure is to advance agricultural and energy initiatives by authorizing the issuance of special purpose revenue bonds in an amount not to exceed $50,000,000 to assist BioTork Hawaii LLC with the planning, permitting, design, construction, equipping, and operation of a facility capable of converting agricultural crops and by-products to biofuels and high-protein feed.

The Agribusiness Development Corporation, BioTork Hawaii LLC, and Hawaii Farm Bureau supported this measure.  The Department of Budget and Finance, Department of Agriculture, and an individual 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. 2543 and recommends that it pass Third Reading.

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

____________________________

SYLVIA LUKE, Chair