STAND. COM. REP. NO. 2963

Honolulu, Hawaii

RE:    H.B. No. 2231

       H.D. 1

Honorable Ronald D. Kouchi

President of the Senate

Twenty-Eighth State Legislature

Regular Session of 2016

State of Hawaii

Sir:

     Your Committees on Transportation and Energy and Commerce, Consumer Protection, and Health, to which was referred H.B. No. 2231, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO ENERGY COOPERATIVES,"

beg leave to report as follows:

     The purpose and intent of this measure is clarify that special purpose revenue bonds issued pursuant to part VI of chapter 39A, Hawaii Revised Statutes, may be used to finance publicly owned energy cooperatives.

     Your Committees received testimony in support of this measure from Hawaii Island Energy Cooperative, Kaua‘i Island Utility Cooperative, and Hawaii Solar Energy Association.

     Your Committees find that allowing energy cooperatives access to low-interest financing provides more opportunities for savings for cooperative members and broadens the variety of funding sources available to finance energy projects in the State.

     As affirmed by the records of votes of the members of your Committees on Transportation and Energy and Commerce, Consumer Protection, and Health that are attached to this report, your Committees are in accord with the intent and purpose of H.B. No. 2231, H.D. 1, and recommend that it pass Second Reading and be referred to your Committee on Ways and Means.

Respectfully submitted on behalf of the members of the Committees on Transportation and Energy and Commerce, Consumer Protection, and Health,

________________________________ ROSALYN H. BAKER, Chair

________________________________ LORRAINE R. INOUYE, Chair