STAND. COM. REP. NO. 2149

Honolulu, Hawaii

RE:    S.B. No. 2277

Honorable Ronald D. Kouchi

President of the Senate

Twenty-Eighth State Legislature

Regular Session of 2016

State of Hawaii

Sir:

     Your Committee on Economic Development, Environment, and Technology, to which was referred S.B. No. 2277 entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS FOR GOODWILL INDUSTRIES OF HAWAII, INC,"

begs leave to report as follows:

     The purpose and intent of this measure is to authorize the issuance of special purpose revenue bonds for Goodwill Industries of Hawaii, Inc.

     Your Committee received testimony in support of this measure from Goodwill Industries of Hawaii, Inc. and one individual.  Your Committee received comments on this measure from the Department of Budget and Finance.

     Your Committee finds that the proceeds of the sale of special purpose revenue bonds will be used by Goodwill Industries of Hawaii, Inc., to finance capital improvements at the Beretania Street property, which requires enclosure of much of the area from the outdoors and updates to create efficiencies in processing operations, and to provide a better environment for its employees and clients.  Your Committee further finds that the issuance of these special purpose revenue bonds is in the public interest and will benefit the public health, safety, and general welfare.

     As affirmed by the record of votes of the members of your Committee on Economic Development, Environment, and Technology that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2277 and recommends that it pass Second Reading and be referred to your Committee on Ways and Means.

Respectfully submitted on behalf of the members of the Committee on Economic Development, Environment, and Technology,

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GLENN WAKAI, Chair