STAND. COM. REP. NO. 1049-22

Honolulu, Hawaii

, 2022

RE: S.B. No. 2070

S.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 Energy & Environmental Protection, to which was referred S.B. No. 2070, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO SPECIAL PURPOSE REVENUE BONDS TO ASSIST THE HAWAIIAN LEGACY REFORESTATION INITIATIVE TO RESTORE HAWAII'S FORESTS AND NATURAL RESOURCES,"

begs leave to report as follows:

The purpose of this measure is to authorize the Department of Budget and Finance to issue special purpose revenue bonds to assist the Hawaiian Legacy Reforestation Initiative in generating a sustainable model of endemic reforestation, ecosystem revitalization, endangered species recovery, and carbon credit sequestering.

Your Committee received testimony in support of this measure from Wilkinson Koa Furniture, Ponsse Plc, Hawaiian Legacy Reforestation Initiative, ‘Alohilani Resort Waikiki Beach, Embassy Suites Waikiki Beach Walk, The Kahala Hotel & Resort, Hawai‘i Convention Center, and seven individuals. Your Committee received testimony in opposition to this measure from 350Hawaii.org. Your Committee received comments on this measure from the Department of Budget and Finance and Office of Planning and Sustainable Development.

Your Committee finds that the planting of native trees in Hawaii will provide a myriad of benefits, including reducing climate change, purifying the air, preventing excess evaporation, preventing water runoff by helping rainwater enter the soil, providing habitats for wildlife, reinforcing the soil, controlling erosion, and providing cultural benefits. This measure supports efforts to further promote environmental protection, biodiversity, and climate change mitigation and restore the natural ecosystem in the State.

As affirmed by the record of votes of the members of your Committee on Energy & Environmental Protection that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2070, S.D. 1, and recommends that it pass Second Reading and be referred to your Committee on Judiciary & Hawaiian Affairs.

Respectfully submitted on behalf of the members of the Committee on Energy & Environmental Protection,

____________________________

NICOLE E. LOWEN, Chair