STAND. COM. REP. NO. 1007

                                 Honolulu, Hawaii
                                                   , 1999

                                 RE: H.B. No. 806
                                     H.D. 2




Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twentieth State Legislature
Regular Session of 1999
State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No.
806, H.D. 1, entitled: 

     "A BILL FOR AN ACT RELATING TO LAND EXCHANGE,"

begs leave to report as follows:

     The purpose of this bill is to approve the exchange of
public lands in North Kona for private lands along the Kona coast
to develop a new motor speedway industry.

     The Department of Business, Economic Development, and
Tourism, the Hawaii International Motor Speedway, the Mayor of
Hawaii, and the Board of Land and Natural Resources testified in
support of this bill.  The Governor and the Representative from
the Fifth district commented on this bill.

     Your Committee is concerned that a number of issues remain
unresolved but believes that the bill has merit and further
discussion is warranted.  Your Committee has therefore amended
the effective date to July 1, 2010, to promote further
discussion.

     Your Committee has also amended this bill by making
technical, nonsubstantive changes for style and clarity.

     As affirmed by the record of votes of the members of your
Committee on Finance that is attached to this report, your
Committee is in accord with the intent and purpose of H.B. No.
806, H.D. 1, as amended herein, and recommends that it pass Third
Reading in the form attached hereto as H.B. No. 806, H.D. 2.

 
                                 STAND. COM. REP. NO. 1007
                                 Page 2

 

                                   Respectfully submitted on
                                   behalf of the members of the
                                   Committee on Finance,



                                   ______________________________
                                   DWIGHT Y. TAKAMINE, Chair