STAND. COM. REP. NO. 2640

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 Ways and Means, 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 to assist in an industrial enterprise of Goodwill Industries of Hawaii, Inc.

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

     Your Committee finds that Goodwill Industries of Hawaii, Inc. and their nonprofit affiliates will use the proceeds of the sale of special purpose revenue bonds issued pursuant to this measure to finance capital improvements at Goodwill Industries' Beretania Street property.  Your Committee therefore finds that the issuance of special purpose revenue bonds for the industrial enterprise within this measure 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 Ways and Means 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 Third Reading.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

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JILL N. TOKUDA, Chair