STAND. COM. REP. NO.  1228-16

 

Honolulu, Hawaii

                , 2016

 

RE:   S.B. No. 2369

      H.D. 1

 

 

 

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Eighth State Legislature

Regular Session of 2016

State of Hawaii

 

Sir:

 

     Your Committee on Energy & Environmental Protection, to which was referred S.B. No. 2369 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 of this measure is to authorize the issuance of $30,000,000 in special purpose revenue bonds (SPRBs) to assist Hawaii Renewable Resources, LLC, with the establishment of a renewable natural gas energy production facility on Maui that will grow energy crops to produce renewable natural gas, carbon dioxide, recovered organic composts, and recovered irrigation water.

 

     Hawaii Renewable Resources, LLC; Renewable Energy Action Coalition of Hawaii; and Hawaii Farm Bureau supported this measure.  The Department of Budget and Finance provided comments.

 

     Your Committee has amended this measure by:

 

     (1)  Changing the amount authorized to be issued to an unspecified amount; and

 

     (2)  Making a technical, nonsubstantive amendment for purposes of consistency.

     Should your Committee on Finance deliberate on this measure further, your Committee on Energy & Environmental Protection respectfully requests that it consider authorizing $30,000,000 in SPRBs to assist Hawaii Renewable Resources, LLC.

 

     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 S.B. No. 2369, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 2369, H.D. 1, and be referred to your Committee on Finance.

 

 

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

 

 

 

 

____________________________

CHRIS LEE, Chair