STAND. COM. REP. NO. 158

Honolulu, Hawaii

RE: S.B. No. 988

Honorable Ronald D. Kouchi

President of the Senate

Thirtieth State Legislature

Regular Session of 2019

State of Hawaii

Sir:

Your Committee on Energy, Economic Development, and Tourism, to which was referred S.B. No. 988 entitled:

"A BILL FOR AN ACT AUTHORIZING THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS FOR MELE ASSOCIATES, INC., A RENEWABLE ENERGY DEVELOPER SERVING THE GENERAL PUBLIC IN PROVIDING ELECTRIC ENERGY,"

begs leave to report as follows:

The purpose and intent of this measure is to authorize the issuance of special purpose revenue bonds to Mele Associates, Inc. for the provision of electric energy and installation of renewable energy projects in Hawaii.

Your Committee received testimony in support of this measure from Mele Associates, Inc. Your Committee received comments on this measure from the Department of Budget and Finance.

Your Committee finds that Hawaii is well-suited to harness strong trade winds and abundant sunlight as renewable energy to combat climate change and that Mele Associates, Inc., has experience installing renewable energy projects through financing by special purpose revenue bonds. This measure authorizes special purpose revenue bonds to be issued for renewable energy projects, which are in the public interest and for the public health, safety, and general welfare.

As affirmed by the record of votes of the members of your Committee on Energy, Economic Development, and Tourism that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 988 and recommends that it pass Second Reading and be referred to your Committee on Ways and Means.

Respectfully submitted on behalf of the members of the Committee on Energy, Economic Development, and Tourism,

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GLENN WAKAI, Chair