STAND. COM. REP. NO. 660

Honolulu, Hawaii

RE: S.B. No. 1589

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 Economic Development and Tourism, to which was referred S.B. No. 1589 entitled:

"A BILL FOR AN ACT RELATING TO THE STADIUM DEVELOPMENT SPECIAL FUND,"

begs leave to report as follows:

The purpose and intent of this measure is to:

(1) Require that conditions placed on appropriations to the Stadium Development Special Fund be met before expenditure; and

(2) Appropriate funds out of the Stadium Development Special Fund, subject to the completion of specific project readiness conditions.

Your Committee received comments on this measure from the Department of Attorney General and Stadium Authority.

Your Committee finds that continued oversight and support are necessary to ensure the successful completion of the New Aloha Stadium Entertainment District and to realize the copious benefits this significant public-private partnership promises. This measure maintains accountability by requiring that the Stadium Authority meet any condition set by the Legislature on an appropriation to the Stadium Development Special Fund before its expenditure.

Your Committee has amended this measure by:

(1) Clarifying that if the New Aloha Stadium Entertainment District Project is terminated before completion, all moneys remaining in the Stadium Development Special Fund that are not expended or encumbered shall lapse to the general fund;

(2) Inserting an effective date of July 1, 2050, to encourage further discussion; and

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

As affirmed by the record of votes of the members of your Committee on Economic Development and Tourism that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1589, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 1589, S.D. 1, and be referred to your Committee on Ways and Means.

Respectfully submitted on behalf of the members of the Committee on Economic Development and Tourism,

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LYNN DECOITE, Chair