STAND. COM. REP. NO. 1010

Honolulu, Hawaii

RE:    H.B. No. 633

       H.D. 1

       S.D. 1

Honorable Ronald D. Kouchi

President of the Senate

Twenty-Ninth State Legislature

Regular Session of 2017

State of Hawaii

Sir:

     Your Committee on Water and Land, to which was referred H.B. No. 633, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO ASSISTING DAM AND RESERVOIR OWNERS,"

begs leave to report as follows:

     The purpose and intent of this measure is to clarify that aboveground freshwater storage tanks are included in the definition of "appurtenant works" for the purposes of authorizing the issuance of special purpose revenue bonds to assist dam and reservoir owners.

     Your Committee received testimony in support of this measure from the Department of Land and Natural Resources, Board of Water Supply for the City and County of Honolulu, and one individual.

     Your Committee finds that clarifying the definition of "appurtenant works" to include aboveground freshwater storage tanks will broaden the types of improvements eligible for special purpose revenue bond financing.  Providing this additional financing option for waterworks projects will assist dam and reservoir owners in implementing improvements, and the savings realized from lower interest rates will help keep water rates affordable for residents who purchase their water supply.

     Your Committee has amended this measure by inserting an effective date of March 15, 2099, to encourage further discussion.

     As affirmed by the record of votes of the members of your Committee on Water and Land that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 633, H.D. 1, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 633, H.D. 1, S.D. 1, and be referred to your Committee on Ways and Means.

Respectfully submitted on behalf of the members of the Committee on Water and Land,

________________________________

KARL RHOADS, Chair