STAND. COM. REP. NO.  309-16

 

Honolulu, Hawaii

                , 2016

 

RE:   H.B. No. 2593

      H.D. 1

 

 

 

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Eighth State Legislature

Regular Session of 2016

State of Hawaii

 

Sir:

 

     Your Committee on Agriculture, to which was referred H.B. No. 2593 entitled:

 

"A BILL FOR AN ACT AUTHORIZING THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS FOR HAWAII RENEWABLE RESOURCES, LLC,"

 

begs leave to report as follows:

 

     The purpose of this measure is to support sustainable food production and the development and use of renewable energy by authorizing the issuance of special purpose revenue bonds to assist Hawaii Renewable Resources, LLC.

 

     The Department of Agriculture, Hawaii Renewable Resources, LLC, Renewable Energy Action Coalition of Hawaii, Hawaii Farm Bureau, and several concerned individuals supported this measure.  The Department of Budget and Finance submitted comments on this measure.

 

     Your Committee has amended this measure by:

 

     (1)  Deleting the authorized amount of the special purpose revenue bond to assist Hawaii Renewable Resources, LLC; and

 

     (2)  Changing its effective date to January 20, 2050, to encourage further discussion.

 

     Should the Committee on Finance deliberate on this measure further, your Committee on Agriculture respectfully requests that it consider issuing the special purpose revenue bond in a total amount not to exceed $30,000,000.

 

     As affirmed by the record of votes of the members of your Committee on Agriculture that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2593, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 2593, H.D. 1, and be referred to your Committee on Finance.

 

 

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

 

 

 

 

____________________________

CLIFT TSUJI, Chair