STAND. COM. REP. NO. 1862

Honolulu, Hawaii

, 2021

RE: S.B. No. 1412

S.D. 2

H.D. 2

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirty-First State Legislature

Regular Session of 2021

State of Hawaii

Sir:

Your Committee on Finance, to which was referred S.B. No. 1412, S.D. 2, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO SPECIAL PURPOSE REVENUE BONDS FOR THE HONOKEA SURF VILLAGE,"

begs leave to report as follows:

The purpose of this measure is to authorize the issuance of special purpose revenue bonds to assist HK Management LLC, in planning, designing, constructing, reconstructing, renovating, acquiring, equipping, and improving surf industry center facilities.

Your Committee received testimony in support of this measure from Treehouse Coworking; Hawaii Ocean Education Foundation; Kai Law, LLC; and numerous individuals. Your Committee received comments on this measure from the Department of Budget and Finance.

Your Committee has amended this measure by changing the amount of special purpose revenue bonds authorized to be issued from $95,000,000 to an unspecified sum.

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. 1412, S.D. 2, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 1412, S.D. 2, H.D. 2.

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

____________________________

SYLVIA LUKE, Chair