STAND. COM. REP. NO. 1511

Honolulu, Hawaii

, 2019

RE: S.B. No. 1440

S.D. 1

H.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirtieth State Legislature

Regular Session of 2019

State of Hawaii

Sir:

Your Committee on Energy & Environmental Protection, to which was referred S.B. No. 1440, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO SPECIAL PURPOSE REVENUE BONDS FOR TREVI SYSTEMS, INC., OR ITS RELATED ENTITY, KONA COAST WATER LLC,"

begs leave to report as follows:

The purpose of this measure is to authorize the issuance of special purpose revenue bonds to assist Trevi Systems, Inc., or its related entity, Kona Coast Water LLC, to fund the plans, designs, construction, equipping, land leases, and other assets for two or more water desalination plants that use one hundred percent renewable solar energy for its customers on Hawaii island and potentially on other islands in the State.

Trevi Systems, Inc. and Kona Coast Water testified in support of this measure. The Department of the Attorney General and Department of Budget and Finance (BNF) provided comments.

Your Committee has amended this measure by making technical amendments to change the authority under which BNF may issue the special purpose revenue bonds authorized by this measure from part VI of chapter 39A, Hawaii Revised Statutes, to part V of chapter 39A, Hawaii Revised Statutes, relating to assistance to industrial enterprises.

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. 1440, S.D. 1, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 1440, S.D. 1, 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,

____________________________

NICOLE E. LOWEN, Chair