STAND. COM. REP. NO.  430-16

Honolulu, Hawaii

                , 2016

RE:   H.B. No. 2059

      H.D. 1

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Eighth State Legislature

Regular Session of 2016

State of Hawaii

Sir:

     Your Committee on Water & Land, to which was referred H.B. No. 2059 entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS FOR KEHALANI OFFSITE RETENTION BASIN,"

begs leave to report as follows:

The purpose of this measure is to authorize the issuance of special purpose revenue bonds to provide financing to assist RCFC Kehalani, LLC, with Kehalani offsite retention basin improvement work.

The Department of Land and Natural Resources and RCFC Kehalani, LLC provided testimony in support of this measure.  The Department of the Attorney General and Department of Budget and Finance provided comments.

Your Committee has amended this measure by clarifying that the statutory authorization to issue the special purpose revenue bonds is pursuant to House Bill No. 2058 (2016), Relating to Special Purpose Revenue Bonds.

     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 H.B. No. 2059, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 2059, H.D. 1, and be referred to your Committee on Finance.

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

____________________________

RYAN I. YAMANE, Chair