STAND. COM. REP. NO. 3115

Honolulu, Hawaii

RE: S.B. No. 3280

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 Ways and Means, to which was referred S.B. No. 3280 entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST SAINT JOSEPH SCHOOL,"

begs leave to report as follows:

The purpose and intent of this measure is to authorize the Department of Budget and Finance to issue special purpose revenue bonds to assist Saint Joseph School in planning, designing, constructing, reconstructing, renovating, acquiring, equipping, and improving its educational facilities.

Your Committee received written comments in support of this measure from the Cardinal Legacy Foundation.

Your Committee received written comments on this measure from the Department of Budget and Finance.

Your Committee finds that the proposed uses of the special purpose revenue bonds constitute a project that qualifies for special purpose revenue bonds that are intended to assist a not-for-profit private enterprise sectarian elementary and secondary school that serves the public.

Your Committee has amended this measure by changing the effective date to July 1, 2050, to facilitate further discussion on the measure.

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. 3280, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 3280, S.D. 1.

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

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DONOVAN M. DELA CRUZ, Chair