STAND. COM. REP. NO. 2154

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 Finance, to which was referred S.B. No. 1440, S.D. 1, H.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.

Kona Coast Water, LLC, and Trevi Systems, Inc. submitted testimony in support of this measure. The Department of Budget and Finance submitted comments on this measure.

As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1440, S.D. 1, H.D. 1, and recommends that it pass Third Reading.

Respectfully submitted on behalf of the members of the Committee on Finance,

____________________________

SYLVIA LUKE, Chair