STAND. COM. REP. NO.  377

Honolulu, Hawaii

                , 2015

RE:   H.B. No. 801

      H.D. 1

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Eighth State Legislature

Regular Session of 2015

State of Hawaii

Sir:

     Your Committee on Energy & Environmental Protection, to which was referred H.B. No. 801 entitled:

"A BILL FOR AN ACT AUTHORIZING THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS FOR SUNSTRONG LLC, A RENEWABLE ENERGY DEVELOPER SERVING THE GENERAL PUBLIC IN PROVIDING ELECTRIC ENERGY,"

begs leave to report as follows:

The purpose of this measure is to authorize the issuance of not more than $50,000,000 in special purpose revenue bonds to assist SunStrong LLC, with renewable energy projects in the State.

Kitahata and Company and SunStrong LLC, submitted testimony in support of this measure.  The Department of the Attorney General and the Department of Budget and Finance submitted comments.

     Your Committee finds that this measure would help an experienced renewable energy company to finance important projects that advance the State's priorities regarding clean energy by reducing dependence on fossil fuels that pollute the environment and are subject to price volatility.

     Your Committee has amended this measure by changing the amount of the authorized special purpose revenue bonds to an unspecified sum.

     Should the Committee on Finance decide to hear this measure, your Committee respectfully requests that it consider authorizing the issuance of not more than $50,000,000 in special purpose revenue bonds for the purposes of this measure.

     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. 801, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 801, H.D. 1, and be referred to the Committee on Finance.

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

____________________________

CHRIS LEE, Chair