STAND. COM. REP. NO. 1192

Honolulu, Hawaii

, 2005

RE: S.B. No. 1006

S.D. 1

H.D. 1

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Third State Legislature

Regular Session of 2005

State of Hawaii

Sir:

Your Committee on Consumer Protection & Commerce, to which was referred S.B. No. 1006, S.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,"

begs leave to report as follows:

The purpose of this bill is to authorize the issuance of special purpose revenue bonds (SPRBs) for Honolulu Seawater Air Conditioning, LLC for plans, design, and construction of a seawater air conditioning (SWAC) district cooling system in downtown Honolulu.

The Division of Consumer Advocacy of the Department of Commerce and Consumer Affairs and Honolulu Seawater Air Conditioning, LLC supported this bill. The Department of Budget and Finance commented.

Your Committee finds that a SWAC systems' use of cold, deep seawater could provide more than 70 percent of the cooling load in air conditioning systems in Honolulu. SWAC systems can also reduce the use of potable water and toxic chemicals. Your Committee believes issuing SPRBs to Honolulu Seawater Air Conditioning can help to meet Hawaii's energy self-sufficiency goals.

Your Committee has amended this bill by changing its effective date to July 1, 2005.

As affirmed by the record of votes of the members of your Committee on Consumer Protection & Commerce that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1006, S.D. 1, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 1006, S.D. 1, H.D. 1, and be referred to the Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Consumer Protection & Commerce,

 

____________________________

KENNETH HIRAKI, Chair