STAND. COM. REP. NO. 2688

Honolulu, Hawaii

RE:    S.B. No. 2924

Honorable Donna Mercado Kim

President of the Senate

Twenty-Seventh State Legislature

Regular Session of 2014

State of Hawaii

Madam:

     Your Committee on Ways and Means, to which was referred S.B. No. 2924 entitled:

"A BILL FOR AN ACT RELATING TO PUBLIC UTILITIES,"

begs leave to report as follows:

     The purpose and intent of this measure is to increase the maximum allowable balance retained by the public utilities commission special fund at the end of each fiscal year.

     Your Committee received written comments in support of this measure from the Public Utilities Commission, the Division of Consumer Advocacy of the Department of Commerce and Consumer Affairs, Hawaii Energy Policy Forum, and one individual.

     Your Committee finds that this measure will allow the Public Utilities Commission and the Division of Consumer Advocacy of the Department of Commerce and Consumer Affairs to fulfill their regulatory oversight duties of public utility companies and help encumber funds for contracts for specialized technical and regulatory services.

     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 S.B. No. 2924 and recommends that it pass Third Reading.

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

____________________________

DAVID Y. IGE, Chair