STAND. COM. REP. NO. 1166

Honolulu, Hawaii

, 2005

RE: H.B. No. 1238

H.D. 1

S.D. 1

 

 

Honorable Robert Bunda

President of the Senate

Twenty-Third State Legislature

Regular Session of 2005

State of Hawaii

Sir:

Your Committees on Water, Land, and Agriculture and Energy, Environment, and International Affairs, to which was referred H.B. No. 1238, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST SEAWATER AIR CONDITIONING PROJECTS ON THE ISLAND OF OAHU,"

beg leave to report as follows:

The purpose of this measure is to authorize the issuance of special purpose revenue bonds to Honolulu Seawater Air Conditioning for the design and construction of a chilled water distribution system.

The Department of Commerce and Consumer Affairs and the Honolulu Seawater Air Conditioning LLC submitted testimony in support of this measure. The Department of Budget and Finance submitted comments on this measure.

Seawater air conditioning district cooling systems are a renewable energy technology that has the potential to provide a contribution to Hawaii's renewable portfolio standard requirements. Your Committees find that support for the development of renewable and efficient energy systems in the State is in the public's interest. Thus, this measure will authorize the issuance and refunding of special purpose revenue bonds to assist the seawater air conditioning projects in constructing more economically feasible systems.

Your Committees have amended this bill by inserting an effective date of July 1, 2050, to facilitate further discussion, and making technical nonsubstantive amendments for the purposes of clarity and style.

As affirmed by the records of votes of the members of your Committees on Water, Land, and Agriculture and Energy, Environment, and International Affairs that are attached to this report, your Committees are in accord with the intent and purpose of H.B. No. 1238, H.D. 1, as amended herein, and recommend that it pass Second Reading in the form attached hereto as H.B. No. 1238, H.D. 1, S.D. 1, and be referred to the Committee on Ways and Means.

Respectfully submitted on behalf of the members of the Committees on Water, Land, and Agriculture and Energy, Environment, and International Affairs,

____________________________

J. KALANI ENGLISH, Chair

____________________________

RUSSELL S. KOKUBUN, Chair