STAND. COM. REP. NO. 3545

Honolulu, Hawaii

RE: H.B. No. 2108

H.D. 1

S.D. 1

Honorable Ronald D. Kouchi

President of the Senate

Twenty-Ninth State Legislature

Regular Session of 2018

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred H.B. No. 2108, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST A SEAWATER AIR CONDITIONING PROJECT IN HAWAII,"

begs leave to report as follows:

The purpose and intent of this measure is to extend the special purpose revenue bond authorization from June 30, 2018, to June 30, 2023, to assist Kaiuli Energy, LLC, with the financing of the planning, design, and construction of a seawater air conditioning district cooling facility and chilled water distribution system.

Your Committee received written comments in support of this measure from the Oahu County Committee on Legislative Priorities of the Democratic Party of Hawaii, Organizing for Action, Ulupono Initiative, and 350Hawaii.org.

Your Committee finds that extending the special purpose revenue bond authorization period to facilitate Kaiuli Energy, LLC's development of a seawater air conditioning and water chilling facility will assist that project and help to save electricity, reduce water usage, and further the State's renewable energy goals.

Your Committee has amended this measure by changing the effective date from January 28, 2045, to June 29, 2018.

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 H.B. No. 2108, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 2108, H.D. 1, S.D. 1.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

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DONOVAN M. DELA CRUZ, Chair