STAND. COM. REP. NO. 1531

 

Honolulu, Hawaii

                  

 

RE:    H.B. No. 633

       H.D. 1

       S.D. 1

 

 

 

Honorable Ronald D. Kouchi

President of the Senate

Twenty-Ninth State Legislature

Regular Session of 2017

State of Hawaii

 

Sir:

 

     Your Committee on Ways and Means, to which was referred H.B. No. 633, H.D. 1, S.D. 1, entitled:

 

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

 

begs leave to report as follows:

 

     The purpose and intent of this measure is to include aboveground freshwater storage tanks in the definition of "appurtenant works" so that maintenance and repair of those tanks would be eligible for special purpose revenue bond financing when used for dams and reservoirs.

 

     Your Committee received written comments in support of this measure from the Department of Land and Natural Resources and the Land Use Research Foundation of Hawaii.

 

     Your Committee received written comments in opposition to this measure from one individual.

 

     Your Committee finds that special purpose revenue bonds are a cost effective way to finance large-scale public interest projects.  Dam and reservoir owners are authorized to obtain financing through the special purpose revenue bond program for work on a dam, reservoir, or appurtenant work that is necessary to maintain or improve the dam, reservoir, or appurtenant work.

 

     Your Committee also finds that aboveground freshwater storage tanks are not currently considered appurtenant works for the purposes of special purpose revenue bond financing.  Expanding the type of maintenance and repair work that can be financed through special purpose revenue bonds to include aboveground freshwater storage tanks will allow dam and reservoir owners to maintain and improve their facilities in a manner that is cost effective both for dam owners and water consumers.

 

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

 

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

 

 

 

________________________________

JILL N. TOKUDA, Chair