STAND. COM. REP. NO.  975

 

Honolulu, Hawaii

                , 2017

 

RE:   H.B. No. 633

      H.D. 1

 

 

 

 

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Ninth State Legislature

Regular Session of 2017

State of Hawaii

 

Sir:

 

     Your Committee on Finance, to which was referred H.B. No. 633 entitled:

 

"A BILL FOR AN ACT RELATING TO ASSISTING DAM AND RESERVOIR OWNERS,"

 

begs leave to report as follows:

 

     The purpose of this measure is to clarify that aboveground freshwater storage tanks are eligible for special purpose revenue bond financing by specifically including such tanks in the definition of "appurtenant works" for the purpose of authorizing the issuance of special purpose revenue bonds to assist dam and reservoir owners.

 

     The Department of Land and Natural Resources and Board of Water Supply of the City and County of Honolulu supported this measure.

 

     Your Committee has amended this measure by:

 

     (1)  Amending the effective date to July 1, 2030, to facilitate further discussion; and

 

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

 

     As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 633, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 633, H.D. 1.

 

Respectfully submitted on behalf of the members of the Committee on Finance,

 

 

 

 

____________________________

SYLVIA LUKE, Chair