STAND. COM. REP. NO. 391-22

Honolulu, Hawaii

, 2022

RE: H.B. No. 2185

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 Higher Education & Technology, to which was referred H.B. No. 2185 entitled:

"A BILL FOR AN ACT RELATING TO UNIVERSITY OF HAWAII REVENUE BONDS,"

begs leave to report as follows:

The purpose of this measure is to authorize the University of Hawaii to issue $100,000,000 in revenue bonds to complete as many of its priority capital facility construction, renovation, modernization, and repair projects as possible.

Your Committee received testimony in support of this measure from the University of Hawai‘i System.

Your Committee finds that this measure is necessary to enable the University of Hawaii to continue addressing its capital facility needs, including construction of new projects and reducing the backlog of major repairs and maintenance.

Your Committee has amended this measure by:

(1) Changing the amounts of the revenue bonds authorized and revenue bond proceeds appropriated to unspecified amounts; and

(2) Changing its effective date to July 1, 2050, to encourage further discussion.

Your Committee respectfully requests that should your Committee on Finance choose to hear this measure, it consider authorizing the issuance of $100,000,000 in revenue bonds and appropriating the same amount in revenue bond proceeds.

As affirmed by the record of votes of the members of your Committee on Higher Education & Technology that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2185, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 2185, H.D. 1, and be referred to your Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Higher Education & Technology,

____________________________

GREGG TAKAYAMA, Chair