STAND. COM. REP. NO. 1290-22

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 Judiciary & Hawaiian Affairs, 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 to generate 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 the Hawaiian Legacy Reforestation Initiative, Aloha Green LLC, HPM Building Supply, and eight 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.

Your Committee finds that native trees in Hawaii provide many benefits, such as reducing climate change, purifying the air, and providing habitats for wildlife. This measure authorizes the issuance of special purpose revenue bonds to support 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 Judiciary & Hawaiian Affairs 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 be referred to your Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Judiciary & Hawaiian Affairs,

____________________________

MARK M. NAKASHIMA, Chair