STAND. COM. REP. NO.  1036

 

Honolulu, Hawaii

                , 2007

 

RE:   H.B. No. 194

      H.D. 1

 

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fourth State Legislature

Regular Session of 2007

State of Hawaii

 

Sir:

 

     Your Committee on Finance, to which was referred H.B. No. 194 entitled:

 

"A BILL FOR AN ACT RELATING TO THE NATURAL ENERGY LABORATORY OF HAWAII AUTHORITY,"

 

begs leave to report as follows:

 

     The purpose of this bill is to authorize the Natural Energy Laboratory of Hawaii Authority (NELHA) to acquire, hold, and sell qualified securities.

 

     NELHA offered comments. 

 

     Your Committee notes that under the bill as received by your Committee, no limitation was placed on the derivation of the qualified securities that could be acquired, held, or sold by NELHA:  conceivably, NELHA could have acquired the qualified securities in any business, whether or not it had any nexus with NELHA's research and technology park.

 

     Accordingly, your Committee has amended this bill by specifying that NELHA is authorized to acquire, hold, and sell qualified securities in the business of a tenant or prospective tenant of the authority.

 

     Technical, nonsubstantive amendments were also made for purposes of clarity, consistency, and style.


     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. 194, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 194, H.D. 1.

 

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

 

 

 

 

____________________________

MARCUS R. OSHIRO, Chair