STAND. COM. REP. NO. 396-22

Honolulu, Hawaii

, 2022

RE: H.B. No. 2166

H.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirty-First State Legislature

Regular Session of 2022

State of Hawaii

Sir:

Your Committee on Water & Land, to which was referred H.B. No. 2166 entitled:

"A BILL FOR AN ACT RELATING TO THE PAYMENT OF DEBT SERVICE ON THE TURTLE BAY REIMBURSABLE GENERAL OBLIGATION BONDS,"

begs leave to report as follows:

The purpose of this measure is to streamline the process for completing the Department of Land and Natural Resources' required annual payment of debt service on the reimbursable general obligation bonds for the Turtle Bay conservation easement and related property interests.

Your Committee received testimony in support of this measure from the Department of Land and Natural Resources.

Your Committee finds that existing law requires the Legacy Land Conservation Program to complete a cumbersome and prolonged annual grant application and award process before the Department of Land and Natural Resources can make an annual debt service payment on the reimbursable general obligation bonds for Turtle Bay. This measure streamlines the debt service process by removing the requirement that the Legacy Land Conservation Program file an annual application with the Board of Land and Natural Resources.

Your Committee has amended this measure by changing the effective date to July 1, 2050, to encourage further discussion.

As affirmed by the record of votes of the members of your Committee on Water & Land that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2166, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 2166, H.D. 1, and be referred to your Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Water & Land,

____________________________

DAVID A. TARNAS, Chair