STAND. COM. REP. NO.  934-14

Honolulu, Hawaii

                , 2014

RE:   S.B. No. 2876

      S.D. 2

      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 Water & Land, to which was referred S.B. No. 2876, S.D. 2, entitled:

"A BILL FOR AN ACT PROPOSING AN AMENDMENT TO ARTICLE VII, SECTION 12, OF THE HAWAII STATE CONSTITUTION TO ASSIST DAM AND RESERVOIR OWNERS,"

begs leave to report as follows:

The purpose of this measure is to propose an amendment to the State Constitution to authorize the issuance of special purpose revenue bonds and use the proceeds from the bonds to assist dam and reservoir owners.

Your Committee received testimony in support of this measure from the Department of Budget and Finance, The Chamber of Commerce of Hawaii, Hawaii Farm Bureau, and Alexander & Baldwin, Inc.  Your Committee received comments on this measure from the Department of Land and Natural Resources.

     Your Committee has amended this measure by amending the question to be printed on the ballot to specify that bond proceeds would be used for low interest loans to qualifying dam and reservoir owners for specified facilities improvements.

     As affirmed by the record of votes of the members of your Committee on Water & Land that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2876, S.D. 2, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 2876, S.D. 2, H.D. 1, and be referred to the Committee on Judiciary.

Respectfully submitted on behalf of the members of the Committee on Water & Land,

____________________________

CINDY EVANS, Chair