STAND. COM. REP. NO.  7

 

Honolulu, Hawaii

                , 2009

 

RE:   H.B. No. 123

      H.D. 1

 

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fifth State Legislature

Regular Session of 2009

State of Hawaii

 

Sir:

 

     Your Committee on Higher Education, to which was referred H.B. No. 123 entitled:

 

"A BILL FOR AN ACT RELATING TO THE UNIVERSITY OF HAWAII,"

 

begs leave to report as follows:

 

     The purpose of this bill is to address the capital facility needs of the University of Hawaii (UH) through the construction of new projects and the renovation and major repair of existing facilities by:

 

     (1)  Extending the lapse date of the appropriation of $100,000,000 in revenue bond proceeds authorized by Act 161, Session Laws of Hawaii 2007, to June 30, 2013; and

 

     (2)  Authorizing the UH Board of Regents to issue an additional $150,000,000 in revenue bonds, and appropriating the same amount in revenue bond proceeds to lapse on June 30, 2015, for the same purpose.

 

     UH testified in support of this measure.

 

     Your Committee has amended this bill by:

 

     (1)  Changing its effective date to June 30, 2020, to encourage further discussion; and

 

     (2)  Making technical, nonsubstantive amendments for clarity, consistency, and style.

 

     As affirmed by the record of votes of the members of your Committee on Higher Education that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 123, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 123, H.D. 1, and be referred to the Committee on Finance.

 

Respectfully submitted on behalf of the members of the Committee on Higher Education,

 

 

 

 

____________________________

JERRY L. CHANG, Chair