STAND. COM. REP. NO. 1674

Honolulu, Hawaii

RE: H.B. No. 119

H.D. 1

S.D. 2

Honorable Ronald D. Kouchi

President of the Senate

Thirty-First State Legislature

Regular Session of 2021

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred H.B. No. 119, H.D. 1, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST KAUNALEWA,"

begs leave to report as follows:

The purpose and intent of this measure is to amend Act 43, Session Laws of Hawaii 2019, to replace E Ola Mau Na Leo O Kekaha with Kaunalewa as the entity authorized to receive the special purpose revenue bonds issued to assist with the financing, acquisition, remediation, construction, and development of the old Kekaha Sugar Mill.

Your Committee received written comments in support of this measure from a member of the Kauai County Council.

Your Committee received written comments on this measure from the Department of Budget and Finance.

Your Committee finds that this measure is necessary for the improvement of the old Kekaha Sugar Mill. Your Committee also finds that the proposed improvements to the old Kekaha Sugar Mill will facilitate the revitalization of the Kekaha community and support Kauai's agricultural industry.

Your Committee has amended this measure by:

(1) Changing the special purpose revenue bond authorization amount to an unspecified sum;

(2) Amending Section 5 of Act 43, Session Laws of Hawaii 2019, to extend from June 30, 2024, to June 30, 2026, the date by which the special purpose revenue bonds authorization shall lapse;

(3) Changing the effective date to July 1, 2050, to facilitate further discussion on the measure; and

(4) Making technical nonsubstantive changes for purposes of clarity, consistency, and style.

As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 119, H.D. 1, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 119, H.D. 1, S.D. 2.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

________________________________

DONOVAN M. DELA CRUZ, Chair