STAND. COM. REP. NO. 1763

Honolulu, Hawaii

RE: H.B. No. 1156

H.D. 1

S.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 Ways and Means, 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 facilitate the upgrade of Hawaii's port infrastructure.

Specifically, this measure increases the total principal amount of special facility revenue bonds that may be issued by the Department of Transportation for harbor improvements.

Your Committee received written comments in support of this measure from the Department of Transportation, Aukahi Energy, and Hawaii Harbors User Group.

Your Committee finds that increasing the ceiling for special facility revenue bonds will allow the Department of Transportation to improve and maintain critical harbor infrastructure with less reliance on general taxpayer funds.

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 H.B. No. 1156, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 1156, H.D. 1, 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