STAND. COM. REP. NO. 1280

Honolulu, Hawaii

, 2025

RE: S.B. No. 1487

S.D. 1

H.D. 1

Honorable Nadine K. Nakamura

Speaker, House of Representatives

Thirty-Third State Legislature

Regular Session of 2025

State of Hawaii

Madame:

Your Committee on Higher Education, to which was referred S.B. No. 1487, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE UNIVERSITY OF HAWAII REVENUE BONDS,"

begs leave to report as follows:

The purpose of this measure is to authorize the Board of Regents of the University of Hawaii to issue revenue bonds and appropriate funds out of the revenue bond proceeds to finance qualifying priority capital improvement projects of the University of Hawaii.

Your Committee received testimony in support of this measure from the University of Hawaiʻi System.

Your Committee finds that authorizing the University of Hawaii to issue revenue bonds will help address the University's capital facility needs, including the construction of new projects and the renovation, modernization, and major repair of existing facilities, including for faculty and student housing, additional classrooms, laboratories, offices, research facilities, utility facilities, libraries, student support facilities, athletic facilities, and other infrastructure requirements.

Your Committee has amended this measure by:

(1) Changing the effective date to July 1, 3000, to encourage further discussion; and

(2) Making technical, nonsubstantive amendments for the purposes of clarity, consistency, and style.

As affirmed by the record of votes of the members of your Committee on Higher Education that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1487, S.D. 1, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 1487, S.D. 1, H.D. 1, and be referred to your Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Higher Education,

____________________________

ANDREW TAKUYA GARRETT, Chair