STAND. COM. REP. NO. 1210-14
RE: S.B. No. 2876
Honorable Joseph M. Souki
Speaker, House of Representatives
Twenty-Seventh State Legislature
Regular Session of 2014
State of Hawaii
Your Committee on Judiciary, to which was referred S.B. No. 2876, S.D. 2, H.D. 1, entitled:
"A BILL FOR AN ACT PROPOSING AN AMENDMENT TO ARTICLE VII, SECTION 12, OF THE HAWAII STATE CONSTITUTION TO ASSIST DAM AND RESERVOIR OWNERS,"
begs leave to report as follows:
The purpose of this measure is to propose an amendment to the Hawaii State Constitution to authorize the issuance of special purpose revenue bonds and use the proceeds from the bonds to assist dam and reservoir owners.
The Department of Land and Natural Resources; Department of Budget and Finance; The Chamber of Commerce of Hawaii; Hawaii Farm Bureau; Maui County Farm Bureau; and Alexander & Baldwin, Inc., supported the bill. The Land Use Research Foundation of Hawaii provided comments.
Your Committee has amended the bill by:
(1) Clarifying and specifying that the special purpose revenue bonds will be issued to offer loans to assist dam and reservoir owners to improve their facilities to protect public safety and provide significant benefits to the general public as important water sources;
(2) Clarifying that special purpose revenue bonds issued to assist not-for-profit private nonsectarian and sectarian elementary schools, secondary schools, colleges, and universities should not be issued with those to assist dam and reservoir owners;
(3) Changing the effective date to upon compliance with Article XVII, section 3, of the Constitution of the State of Hawaii; 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 Judiciary that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2876, S.D. 2, H.D. 1, as amended herein, and recommends that it be referred to the Committee on Finance in the form attached hereto as S.B. No. 2876, S.D. 2, H.D. 2.
Respectfully submitted on behalf of the members of the Committee on Judiciary,
KARL RHOADS, Chair