STAND. COM. REP. NO. 893
RE: H.B. No. 776
Honorable Scott K. Saiki
Speaker, House of Representatives
Thirty-First State Legislature
Regular Session of 2021
State of Hawaii
Your Committee on Finance, to which was referred H.B. No. 776 entitled:
"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST PUEO DEVELOPMENT, LLC,"
begs leave to report as follows:
The purpose of this measure is to authorize the issuance of special purpose revenue bonds and appropriate the bond revenues derived therefrom for a master planned development proposed by Pueo Development, LLC.
Your Committee received testimony in support of this measure from the Department of Hawaiian Home Lands and five individuals. Your Committee received comments on this measure from the Department of Budget and Finance; Waiohuli Hawaiian Homestead Association, Inc; and Pueo Development, LLC.
Your Committee has amended this measure by expanding the allowable uses for the special purpose revenue bonds and bond revenues for agriculture and processing enterprises.
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. 776, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 776, H.D. 1.
Respectfully submitted on behalf of the members of the Committee on Finance,
SYLVIA LUKE, Chair