STAND. COM. REP. NO. 1297

Honolulu, Hawaii

RE: H.B. No. 1156

H.D. 1

Honorable Ronald D. Kouchi

President of the Senate

Thirty-Third State Legislature

Regular Session of 2025

State of Hawaii

Sir:

Your Committee on Transportation and Culture and the Arts, to which was referred H.B. No. 1156, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO SPECIAL FACILITY REVENUE BONDS,"

begs leave to report as follows:

The purpose and intent of this measure is to increase the total principal amount of special facility revenue bonds that may be issued by the Department of Transportation for harbor improvements.

Your Committee received testimony in support of this measure from the Department of Transportation, Aukahi Energy, and Hawaiʻi Harbors Users Group.

Your Committee finds that special facility revenue bonds can be used by the State for harbor and maritime-related construction operations. As special facility revenue bonds are necessary to expedite projects including the acquisition, remodeling, furnishing, or equipping of commercial harbor facilities, it is critical to ensure that special facility revenue bond limits are able to cover future construction costs. By increasing the existing bond ceiling for special facility revenue bonds, this measure will enable the State to fund necessary public improvements to harbor facilities.

As affirmed by the record of votes of the members of your Committee on Transportation and Culture and the Arts that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1156, H.D. 1, and recommends that it pass Second Reading and be referred to your Committee on Ways and Means.

Respectfully submitted on behalf of the members of the Committee on Transportation and Culture and the Arts,

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CHRIS LEE, Chair