STAND. COM. REP. NO. 2159

Honolulu, Hawaii

RE: S.B. No. 3134

S.D. 1

Honorable Ronald D. Kouchi

President of the Senate

Thirty-First State Legislature

Regular Session of 2022

State of Hawaii

Sir:

Your Committee on Water and Land, to which was referred S.B. No. 3134 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 and intent 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 Turtle Bay.

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

Your Committee finds that currently, the Legacy Land Conservation Program (LLCP) must 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 of $1,500,000 on the Turtle Bay reimbursable general obligation bonds as required by Act 121, Session Laws of Hawaii 2005. The LLCP process includes multiple steps and parties, including the Department of Land and Natural Resources, Department of Agriculture, Agribusiness Development Corporation, Legacy Land Conservation Commission, the nonprofit land conservation organization that fulfills statutory requirements, and the general public. To allow the Department of Land and Natural Resources to dedicate more time and resources to perform other essential responsibilities, this measure will 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 Turtle Bay.

Your Committee has amended this measure by inserting an effective date of July 1, 2050, to encourage further discussion.

As affirmed by the record of votes of the members of your Committee on Water and Land that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 3134, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 3134, S.D. 1, and be referred to your Committee on Ways and Means.

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

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LORRAINE R. INOUYE, Chair