STAND. COM. REP. NO.  649-20

 

Honolulu, Hawaii

                , 2020

 

RE:   H.B. No. 1850

      H.D. 1

 

 

 

 

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirtieth State Legislature

Regular Session of 2020

State of Hawaii

 

Sir:

 

     Your Committee on Economic Development & Business, to which was referred H.B. No. 1850, H.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO THE ENERGY SECURITY SPECIAL FUND,"

 

begs leave to report as follows:

 

     The purpose of this measure is to:

 

     (1)  Amend the uses of the Energy Security Special Fund to allow the Hawaii State Energy Office to enter into public-private partnerships with certain not-for-profit entities to support the commercialization of technologies that will further Hawaii's clean energy and sustainability goals and benefit Hawaii's economy; and

 

     (2)  Increase the allocation of funding to the Energy Security Special Fund that is deposited from the state environmental response, energy, and food security tax from 5 cents to 15 cents per barrel, to ensure sufficient funding levels for these public-private partnerships.

 

     Your Committee received testimony in support of this measure from the University of Hawaii System, Hawaii State Energy Office, Elemental Excelerator, 350Hawaii.org, Chamber of Commerce Hawaii, and eight individuals.  Your Committee received comments on this measure from the Department of Budget and Finance and Tax Foundation of Hawaii.

 

     Your Committee finds that this measure will aid the Hawaii State Energy Office in stimulating development and commercialization of technologies needed to facilitate the State's progress toward its clean energy and sustainability goals.

Your Committee further finds that increasing the allocation of the barrel tax to the Energy Security Special Fund will allow for additional financial resources to be made available to assist in achieving a clean energy future.

 

     As affirmed by the record of votes of the members of your Committee on Economic Development & Business that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1850, H.D. 1, and recommends that it be referred to your Committee on Finance.

 

 

Respectfully submitted on behalf of the members of the Committee on Economic Development & Business,

 

 

 

 

____________________________

ANGUS L.K. McKELVEY, Chair