STAND. COM. REP. NO.2839
RE: H.B. No. 1766
Honorable Robert Bunda
President of the Senate
Twenty-First State Legislature
Regular Session of 2002
State of Hawaii
Your Committee on Health and Human Services, to which was referred H.B. No. 1766 entitled:
"A BILL FOR AN ACT RELATING TO SPECIAL PURPOSE REVENUE BONDS,"
begs leave to report as follows:
The purposes of this measure are to:
(1) Repeal the prohibition on issuing special purpose revenue bonds (SPRBs) for not-for-profit health care facilities after June 30, 2003; and
(2) Authorize the issuance of SPRBs to assist Hawaii Pacific Health, and its affiliates, with financing, and reimbursing costs related to the acquisition or construction of health care facilities, including renovations of existing health care facilities, purchasing land and improvements, acquiring and installing information technology, and other related projects.
Testimony supporting this measure was received from Hawaii Pacific Health, the Chamber of Commerce of Hawaii, and Healthcare Association of Hawaii.
Your Committee finds that Hawaii remains one of the healthiest states in the nation in part due to the State's proactive promotion of healthcare awareness and the implementation of programs the encourage growth for Hawaii's healthcare industry. Your Committee finds that the SPRBs authorized by this measure make available the capital necessary to further develop, promote, and grow Hawaii's healthcare industry for the benefit of the public health.
As affirmed by the record of votes of the members of your Committee on Health and Human Services that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1766, and recommends that it pass Second Reading and be referred to the Committee on Ways and Means.
Respectfully submitted on behalf of the members of the Committee on Health and Human Services,
DAVID MATSUURA, Chair