STAND. COM. REP. NO. 3355

Honolulu, Hawaii

RE:    H.B. No. 2593

       H.D. 1

       S.D. 1

Honorable Ronald D. Kouchi

President of the Senate

Twenty-Eighth State Legislature

Regular Session of 2016

State of Hawaii

Sir:

     Your Committee on Ways and Means, to which was referred H.B. No. 2593, H.D. 1, S.D. 1, 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 and intent of this measure is to authorize the issuance of special purpose revenue bonds to assist the development of food crop, animal feed, energy production, and waste recovery facilities on Oahu.

     Your Committee received written comments in support of this measure from the Department of Agriculture, Hawaii Farm Bureau, Hawaii Renewable Resources, LLC, and one individual.

     Your Committee received written comments on this measure from the Department of Budget and Finance.

     Your Committee finds that Hawaii Renewable Resources, LLC, has proposed to develop and operate a project on approximately ninety acres of agricultural land on Central Oahu that will, among other things, support food sustainability and renewable energy.  Your Committee believes assisting Hawaii Renewable Resources, LLC, with the development of this project through the issuance of special purpose revenue bonds will benefit and strengthen the long-term prospects of the State's energy and agriculture industries, and is in the best interest of the public.

     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 H.B. No. 2593, H.D. 1, S.D. 1, and recommends that it pass Third Reading.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

________________________________

JILL N. TOKUDA, Chair