STAND. COM. REP. NO. 1046-22

Honolulu, Hawaii

, 2022

RE: S.B. No. 3134

S.D. 2

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 S.B. No. 3134, S.D. 2, 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 that financed the Turtle Bay conservation easement.

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

Your Committee finds that section 173A-13, Hawaii Revised Statutes, currently requires the Department of Land and Natural Resources to complete a cumbersome annual grant application and award process before the Department can make its required annual debt service payment. This measure streamlines the process by allowing the Department to process the required annual payment without taking costly intervening steps.

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 S.B. No. 3134, S.D. 2, and recommends that it pass Second Reading 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