STAND. COM. REP. NO. 2408

Honolulu, Hawaii

RE:    S.B. No. 3023

Honorable Ronald D. Kouchi

President of the Senate

Twenty-Eighth State Legislature

Regular Session of 2016

State of Hawaii

Sir:

     Your Committee on Transportation and Energy, to which was referred S.B. No. 3023 entitled:

"A BILL FOR AN ACT RELATING TO INFRASTRUCTURE,"

begs leave to report as follows:

The purpose and intent of this measure is to establish an infrastructure development loan revolving fund to be administered by the Director of Finance.

     Your Committee received testimony in support of this measure from the Office of Planning and one individual.  Your Committee received comments on this measure from the Department of Budget and Finance.

     Your Committee finds that transit-oriented development often requires significant capacity upgrades of existing infrastructure.  Your Committee recognizes that it has a role in supporting transit-oriented development and recognizes the need to provide another financing resource without unduly draining the state budget.  A no-interest loan revolving fund to provide loans for infrastructure improvements will help support transit-oriented development.

     As affirmed by the record of votes of the members of your Committee on Transportation and Energy that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 3023 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 Transportation and Energy,

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LORRAINE R. INOUYE, Chair