STAND. COM. REP. NO. 934-20

Honolulu, Hawaii

, 2020

RE: H.B. No. 1844

H.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirtieth State Legislature

Regular Session of 2020

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 1844, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO CLEAN ENERGY FINANCING,"

begs leave to report as follows:

The purpose of this measure is to strengthen the Hawaii Green Infrastructure Authority's ability to support investment in clean energy technology and infrastructure by:

(1) Establishing the Clean Energy and Energy Efficiency Revolving Loan Fund (CEEERLF) to finance a broad range of clean energy technologies;

(2) Repealing the Building Energy Efficiency Revolving Loan Fund;

(3) Allocating a portion of the barrel tax to the CEEERLF; and

(4) Making an appropriation out of the CEEERLF for clean energy investment loans or other approved uses.

Your Committee received testimony in support of this measure from the Hawaii Green Infrastructure Authority; City and County of Honolulu Office of Climate Change, Sustainability, and Resilience; County of Kauai Office of Economic Development; County of Hawaii Department of Research and Development; Climate Protectors Coalition; 350Hawaii.org; and one individual. Your Committee received comments on this measure from the Department of Commerce and Consumer Affairs Division of Consumer Advocacy; Department of Budget and Finance, Hawaii State Energy Office, and Tax Foundation of Hawaii.

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 H.B. No. 1844, 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