STAND. COM. REP. NO.  1329

 

Honolulu, Hawaii

                , 2007

 

RE:   S.B. No. 1991

      S.D. 1

 

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fourth State Legislature

Regular Session of 2007

State of Hawaii

 

Sir:

 

     Your Committee on Human Services & Housing, to which was referred S.B. No. 1991, S.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST NOT-FOR-PROFIT CORPORATIONS THAT PROVIDE HEALTH CARE FACILITIES,"

 

begs leave to report as follows:

 

     The purpose of this bill is to foster the development of moderate income senior housing in our communities that also provides a continuum of health care services by authorizing the issuance of special purpose revenue bonds not to exceed $120,000,000 to assist the Craigside Retirement Residence, a Hawaii not-for-profit corporation, in the acquisition of land, planning, design, and construction of the senior housing facility.

 

     The Hawaii Long Term Care Association, Arcadia Retirement Residence, and Craigside Retirement Residence testified in support of this bill. 

 

     As affirmed by the record of votes of the members of your Committee on Human Services & Housing that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1991, S.D. 1, and recommends that it pass Second Reading and be referred to the Committee on Finance.

 

 

Respectfully submitted on behalf of the members of the Committee on Human Services & Housing,

 

 

 

 

____________________________

MAILE SHIMABUKURO, Chair