CONFERENCE COMMITTEE REP. NO. 96

Honolulu, Hawaii

, 2019

RE: H.B. No. 1319

H.D. 2

S.D. 2

C.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirtieth State Legislature

Regular Session of 2019

State of Hawaii

Honorable Ronald D. Kouchi

President of the Senate

Thirtieth State Legislature

Regular Session of 2019

State of Hawaii

Sirs:

Your Committee on Conference on the disagreeing vote of the House of Representatives to the amendments proposed by the Senate in H.B. No. 1319, H.D. 2, S.D. 2, entitled:

"A BILL FOR AN ACT RELATING TO SPECIAL PURPOSE REVENUE BONDS FOR ELECTRIC PUBLIC UTILITIES,"

having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.

The purpose of this measure is to authorize the Department of Budget and Finance to issue special purpose revenue bonds for the purpose of assisting Hawaiian Electric Company, Inc., including its subsidiaries Maui Electric Company, Limited, and Hawaii Electric Light Company, Inc., for capital improvement projects.

Your Committee on Conference has amended this measure by:

(1) Inserting a total special purpose revenue bond issuance amount of $700,000,000, to be distributed as follows:

(A) Up to $400,000,000 for Hawaiian Electric Company, Inc.;

(B) Up to $150,000,000 for Maui Electric Company, Limited; and

(C) Up to $150,000,000 for Hawaiian Electric Light Company, Inc.;

(2) Providing that any benefits or savings realized due to the issuance of special purpose revenue bonds shall be apportioned to ratepayers;

(3) Changing its effective date to July 1, 2019; and

(4) Making technical, nonsubstantive amendments for clarity, consistency, and style.

As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of H.B. No. 1319, H.D. 2, S.D. 2, as amended herein, and recommends that it pass Final Reading in the form attached hereto as H.B. No. 1319, H.D. 2, S.D. 2, C.D. 1.

Respectfully submitted on behalf of the managers:

ON THE PART OF THE SENATE

ON THE PART OF THE HOUSE

____________________________ ROSALYN H. BAKER Chair	____________________________ NICOLE E. LOWEN Co-Chair
____________________________ GILBERT S.C. KEITH-AGARAN Co-Chair	____________________________ TY J.K. CULLEN Co-Chair