STAND. COM. REP. NO. 2621
Honolulu, Hawaii
RE: S.B. No. 2301
S.D. 1
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. 2301 entitled:
"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST KEAHOLE MANAGEMENT GROUP LLC,"
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 Keahole Management Group, LLC, in its processing enterprise.
Your Committee received written comments in support of this measure from Keahole Management Group LLC, Hawaii Tropical Fruit Growers, Aeronigma Solutions, Inc., and one individual. Your Committee received comments on this measure from the Department of Budget and Finance.
Your Committee finds that Keahole Management Group, LLC, will use the proceeds of the sale of special purpose revenue bonds issued pursuant to this measure for planning, designing, constructing, and equipping facilities for the manufacturing and processing of products, including the production of value-added agricultural products, in the State. Your Committee therefore finds that the issuance of special purpose revenue bonds for the purposes within the measure is in the public interest and will benefit the public health, safety, and general welfare.
Your Committee has amended this measure by clarifying that Keahole Management Group is a limited liability company.
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. 2301, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2301, S.D. 1.
Respectfully submitted on behalf of the members of the Committee on Ways and Means,
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________________________________ JILL N. TOKUDA, Chair |
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