STAND. COM. REP. NO.  1670-12


Honolulu, Hawaii

                , 2012


RE:   S.B. No. 2236

      H.D. 2





Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Sixth State Legislature

Regular Session of 2012

State of Hawaii




     Your Committee on Finance, to which was referred S.B. No. 2236, H.D. 1, entitled:




begs leave to report as follows:


     The purpose of this measure is to authorize the issuance of special purpose revenue bonds to assist Clearcom, Inc., or a partnership headed by Clearcom, Inc., with the planning, permitting, designing, constructing, equipping, and operating of broadband infrastructure at locations throughout the State.


     The Department of Business, Economic Development, and Tourism; High Technology Development Corporation; ClearCom, Inc.; ControlPoint Surveying, Inc.; Referentia Systems Inc.; Mid-State Consultants, Inc.; and an individual testified in support of this measure.  The Department of Budget and Finance testified in opposition to this measure.  Hawaiian Telcom and Oceanic Time Warner Cable commented on this measure.  


     Your Committee has amended this measure by:


(1)  Expanding the scope of part VI of Chapter 39A, Hawaii Revised Statutes, to allow special purpose revenue bond financing for telecommunications projects;


(2)  Reauthorizing the special purpose revenue bonds under this measure to be issued under part VI of Chapter 39A, Hawaii Revised Statutes;


(3)  Changing its effective date to July 1, 2030, to encourage further discussion; and


     (4)  Making technical, nonsubstantive amendments for 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 S.B. No. 2236, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2236, H.D. 2.


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