STAND. COM. REP. NO. 3511

Honolulu, Hawaii

RE: H.B. No. 3077

H.D. 1

S.D. 2

 

 

Honorable Robert Bunda

President of the Senate

Twenty-Third State Legislature

Regular Session of 2006

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred H.B. No. 3077, H.D. 1, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST ROSETTE STEEL HAWAII,"

begs leave to report as follows:

The purpose of this measure is to authorize the issuance of special purpose revenue bonds to assist Rosette Steel Hawaii with the technology-based manufacturing of steel products for use by the construction industry in the development of affordable housing in Hawaii.

Your Committee understands that Rosette Steel Hawaii is planning to build a high technology affordable housing plant on Oahu where it will manufacture steel components for affordable houses, including trusses and panels. These components can be erected quickly and affordably. For example, four material handlers can assemble a two-story, 2,700 square foot Rosette home in two days, thus, enabling Rosette Steel Hawaii to produce an estimated six affordable houses per day when in full production. The proposed plant will create twenty engineering jobs and eighty union scale production assembly jobs. Furthermore, Rosette Steel Hawaii products and technologies can also be exported to the neighboring islands and countries in the Pacific Rim.

Your Committee has amended this measure by changing its effective date to July 1, 2050, to facilitate further discussion.

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 H.B. No. 3077, H.D. 1, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 3077, H.D. 1, S.D. 2.

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

____________________________

BRIAN T. TANIGUCHI, Chair