STAND. COM. REP. NO. 2716

Honolulu, Hawaii

RE: S.B. No. 3134

S.D. 2

Honorable Ronald D. Kouchi

President of the Senate

Thirty-First State Legislature

Regular Session of 2022

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred S.B. No. 3134, S.D. 1, 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 that financed the Turtle Bay conservation easement.

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

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. Your Committee further finds that this measure would allow the Department to process the required annual payment without having to undergo this prolonged process.

Your Committee has amended this measure by:

(1) Amending the savings clause to clarify that the measure does not affect penalties that were incurred before its effective date; and

(2) Correcting a drafting error.

As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 3134, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 3134, S.D. 2.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

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DONOVAN M. DELA CRUZ, Chair