STAND. COM. REP. NO. 3503

 

Honolulu, Hawaii

                  

 

RE:    H.B. No. 801

       H.D. 1

       S.D. 2

 

 

 

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. 801, H.D. 1, S.D. 1, entitled:

 

"A BILL FOR AN ACT AUTHORIZING THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS FOR SUNSTRONG LLC, A RENEWABLE ENERGY DEVELOPER SERVING THE GENERAL PUBLIC IN PROVIDING ELECTRIC ENERGY,"

 

begs leave to report as follows:

 

     The purpose and intent of this measure is to authorize the issuance of an unspecified amount of special purpose revenue bonds to assist SunStrong, LLC, to provide renewable electric energy and install renewable energy projects in Hawaii.

 

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

 

     Your Committee finds that the severe effects of climate change and shoreline erosion have a negative effect on the quality of life of Hawaii's people.  Your Committee also finds that there is increasing focus on reducing harmful air emissions from fossil fuels that are possible causes of greenhouse gases, which affect climate change.  The cost of fossil fuels is another factor that makes it imperative for Hawaii to look into renewable resources as an energy source.  Hawaii is well-situated to harness strong trade winds and abundant sunlight as sources of renewable energy.  Your Committee believes that the issuance of special purpose revenue bonds to finance SunStrong, LLC, is in the public interest and for the public health, safety, and general welfare.

 

     Your Committee has amended this measure by changing the amount of the bonds authorized to be issued from an unspecified amount to $50,000,000.

 

     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. 801, H.D. 1, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 801, H.D. 1, S.D. 2.

 

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

 

 

 

________________________________

JILL N. TOKUDA, Chair