STAND. COM. REP. NO. 2309

 

Honolulu, Hawaii

                  

 

RE:    S.B. No. 2034

 

 

 

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fourth State Legislature

Regular Session of 2008

State of Hawaii

 

Madam:

 

     Your Committee on Energy and Environment, to which was referred S.B. No. 2034 entitled:

 

"A BILL FOR AN ACT AUTHORIZING THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST OCEANLINX HAWAII LLC,"

 

begs leave to report as follows:

 

     The purpose of this measure is to authorize the issuance of special purpose revenue bonds to assist Oceanlinx Hawaii LLC in planning, designing, and constructing a wave or hydrokinetic power facility on Maui.

 

     Testimony in support of this measure was submitted by Oceanlinx Hawaii LLC; and Hawaiian Electric Company, Inc. and its subsidiary utilities, Maui Electric Company, Ltd. and Hawaii Electric Light Company, Inc.

 

     Your Committee finds that this measure will, by contributing to the production of renewable energy resources, provide numerous benefits, including:

 

     (1)  Reducing dependence on imported fossil fuels for electrical generation, thereby increasing Hawaii's energy security;

 

     (2)  Helping to meet Hawaii's renewable energy goals by using existing natural energy resources;

 

     (3)  Supporting the environmentally beneficial development of one of Hawaii's abundant renewable energy resources; and

 

     (4)  Assisting the State, County of Maui, and the federal government to meet their goals and mandates for energy efficiency and renewable energy use.

 

     As affirmed by the record of votes of the members of your Committee on Energy and Environment that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2034 and recommends that it pass Second Reading and be referred to the Committee on Ways and Means.

 

Respectfully submitted on behalf of the members of the Committee on Energy and Environment,

 

 

 

____________________________

RON MENOR, Chair