STAND. COM. REP. NO. 2150

Honolulu, Hawaii

RE:    S.B. No. 2301

Honorable Ronald D. Kouchi

President of the Senate

Twenty-Eighth State Legislature

Regular Session of 2016

State of Hawaii

Sir:

     Your Committee on Economic Development, Environment, and Technology, to which was referred S.B. No. 2301 entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST KEAHOLE MANAGEMENT GROUP 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 Keahole Management Group LLC as a processing enterprise.

     Your Committee received testimony in support of this measure from Keahole Management Group LLC, Hawaii Tropical Fruit Growers, Koa Kane Limited Liability Company, Hongli Tea Kona LLC, and two individuals.  Your Committee received comments on this measure from the Department of Budget and Finance.

     Your Committee finds that the proceeds of the sale of special purpose revenue bonds will be used by Keahole Management Group LLC to assist with planning, designing, constructing, and equipping facilities for the manufacturing and processing of products, including the production of value-added agricultural products, in the State.  Your Committee further finds that the issuance of these special purpose revenue bonds is in the public interest and will benefit the public health, safety, and general welfare.

     As affirmed by the record of votes of the members of your Committee on Economic Development, Environment, and Technology that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2301 and recommends that it pass Second Reading and be referred to your Committee on Ways and Means.

Respectfully submitted on behalf of the members of the Committee on Economic Development, Environment, and Technology,

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GLENN WAKAI, Chair