STAND. COM. REP. NO. 2562

Honolulu, Hawaii

RE:    S.B. No. 2367

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. 2367 entitled:

"A BILL FOR AN ACT AUTHORIZING THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS FOR HAWAII RENEWABLE RESOURCES, 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 Hawaii Renewable Resources, LLC, with the development of facilities to process, produce, or recover renewable natural gas, animal feed, soil amendment compost, carbon dioxide, water, and solar electricity on Oahu.

     Your Committee received written comments in support of this measure from the Department of Agriculture, Agribusiness Development Corporation, Renewable Energy Action Coalition of Hawaii, and Hawaii Farm Bureau. 

     Your Committee received written comments in opposition to this measure from one individual.

     Your Committee received written comments on this measure from the Department of Budget and Finance.

     Your Committee finds that Hawaii Renewable Resources, LLC, offers sustainable solutions for the production of food and renewable energy from the conversion of recovered food and green agricultural crop resources.  Hawaii Renewable Resources, LLC, proposes to own, design, build, and operate a project on central Oahu's agricultural lands that would produce natural gas and animal feed and recover products such as water and carbon dioxide for farming operations.  Your Committee further finds that the issuance of special purpose revenue bonds for Hawaii Renewable Resources, LLC, will benefit the public without investment or operational risk to the State or counties. 

     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. 2367 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