STAND. COM. REP. NO.1225-02

Honolulu, Hawaii

, 2002

RE: S.B. No. 2709

S.D. 2

H.D. 2

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-First State Legislature

Regular Session of 2002

State of Hawaii

Sir:

Your Committee on Finance, to which was referred S.B. No. 2709, S.D. 2, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE CONVENTION CENTER,"

begs leave to report as follows:

The purpose of this bill is to authorize the right to market, manage, operate, use, and maintain the Hawaii Convention Center to the Hawaii Tourism Authority (HTA). In addition, this bill:

(1) Establishes the Convention Center Enterprise Special Fund (Enterprise Special Fund);

(2) Establishes the Convention Center Facility Reserve Special Fund (Reserve Special Fund);

(3) Appropriates $40,300,000 out of the Enterprise Special Fund to be expended by the HTA for the purposes of this bill;

(4) Appropriates $3,000,000 out of the Enterprise Special Fund to be deposited into the Reserve Special Fund;

(5) Appropriates $3,000,000 out of the Reserve Special Fund to be used for the purposes of the Reserve Special Fund;

(6) Defines "convention center facility" and "convention center"; and

(7) Clarifies that the Convention Center Authority has been repealed as of June 30, 2000.

The Department of Business, Economic Development, and Tourism, HTA, and Hawaii Hotel Association supported this measure.

Tax Foundation of Hawaii offered comments.

Your Committee has amended this bill by:

(1) Changing to $1,000,000 the amount of funds appropriated out of the Enterprise Special Fund and deposited into the Reserve Special Fund;

(2) Changing to $1,000,000 the amount of funds appropriated out of the Reserve Special Fund to be used for the purposes of the Reserve Special Fund; and

(3) Making technical, nonsubstantive amendments for purposes of style and clarity.

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 S.B. No. 2709, S.D. 2, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2709, S.D. 2, H.D. 2.

Respectfully submitted on behalf of the members of the Committee on Finance,

 

____________________________

DWIGHT Y. TAKAMINE, Chair