STAND. COM. REP. NO.  445-16

Honolulu, Hawaii

                , 2016

RE:   H.B. No. 2607

      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 Energy & Environmental Protection, to which was referred H.B. No. 2607 entitled:

"A BILL FOR AN ACT AUTHORIZING THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST PQ ENERGY LLC,"

begs leave to report as follows:

The purpose of this measure is to support the development of renewable and efficient energy systems in the State by authorizing the issuance of $63,000,000 in Special Purpose Revenue Bonds (SPRBs) for PQ Energy LLC to develop renewable energy plants in Hawaii.

PVT Land Company and Pelatron Power Evolution/PQ Energy LLC testified in support of this measure.  Life of the Land testified in opposition to this measure.  The Department of Budget and Finance provided comments.

     Your Committee has amended this measure by:

     (1)  Changing the amount of SPRBs authorized to be issued from $63,000,000 to an unspecified sum; and

     (2)  Making technical, nonsubstantive amendments for clarity, consistency, and style.

     Should the Committee on Finance deliberate this measure further, your Committee on Energy and Environmental Protection respectfully request that it consider authorizing the issuance of $63,000,000 in SPRBs for PQ Energy LLC to develop renewable energy plants in Hawaii.

     As affirmed by the record of votes of the members of your Committee on Energy & Environmental Protection that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2607, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 2607, H.D. 1, and be referred to your Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Energy & Environmental Protection,

____________________________

CHRIS LEE, Chair