STAND. COM. REP. NO. 864

Honolulu, Hawaii

RE: S.B. No. 1487

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 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 and intent of this measure is to authorize the Board of Regents of the University of Hawaii to issue revenue bonds to finance qualifying priority capital improvement projects.

Your Committee received written comments in support of this measure from the University of Hawaii System.

Your Committee finds that the University of Hawaii has various capital facility needs, including the construction of new projects and the renovation, modernization, and major repair of existing facilities. Your Committee further finds that the authorization in this measure to issue revenue bonds will help finance and address the university's capital facility needs.

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. 1487, S.D. 1, and recommends that it pass Third Reading.

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

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DONOVAN M. DELA CRUZ, Chair