STAND. COM. REP. NO. 573
RE: S.B. No. 1412
Honorable Ronald D. Kouchi
President of the Senate
Thirty-First State Legislature
Regular Session of 2021
State of Hawaii
Your Committee on Ways and Means, to which was referred S.B. No. 1412, S.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO SPECIAL PURPOSE REVENUE BONDS FOR THE HONOKEA SURF VILLAGE,"
begs leave to report as follows:
The purpose and intent of this measure is to authorize the issuance of special purpose revenue bonds to assist HK Management, LLC, a Hawaii limited liability company, with planning, constructing, renovating, acquiring, equipping, and improving surf industry center facilities at Honokea Surf Village.
Your Committee received written comments in support of this measure from HK Management, LLC, and numerous individuals.
Your Committee received written comments on this measure from the Department of Budget and Finance and Hawaii Community Development Authority.
Your Committee finds that the surf industry center facilities at Honokea Surf Village are expected to generate income for the State, significantly advance Hawaii's surf and film industries, and create more than two hundred jobs on state lands.
Your Committee has amended this measure by replacing its contents with the contents of S.B. No. 963, which are substantively the same as S.B. No. 1412, S.D. 1, but with nonsubstantive, technical changes.
As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1412, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 1412, S.D. 2.
Respectfully submitted on behalf of the members of the Committee on Ways and Means,
DONOVAN M. DELA CRUZ, Chair