STAND. COM. REP. NO. 1017

                                 Honolulu, Hawaii
                                                   , 1999

                                 RE: H.B. No. 635
                                     H.D. 2




Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twentieth State Legislature
Regular Session of 1999
State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No.
635, H.D. 1, entitled: 

     "A BILL FOR AN ACT RELATING TO HEALTH,"

begs leave to report as follows:

     The purpose of this bill is to issue special purpose revenue
bonds to assist the Hilo Residency Training Program, Inc., a not-
for-profit Hawaii corporation that is engaged in the development
of a health care facility in Hilo, in the financing, refinancing,
or both, of one or more of the following:

     (1)  Retirement of outstanding debt and purchase of leases;

     (2)  Planning, design, construction, and operation of new
          additions;

     (3)  Acquisition and installation of additional equipment;
          and

     (4)  Renovation or repair of existing facilities.

     The Hilo Residency Training Program, Inc., testified in
support of this bill.

     Your Committee has amended this bill by making technical,
nonsubstantive changes for style and clarity.


 
 
 
                                 STAND. COM. REP. NO. 1017
                                 Page 2

 
     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.
635, H.D. 1, as amended herein, and recommends that it pass Third
Reading in the form attached hereto as H.B. No. 635, H.D. 2.

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



                                   ______________________________
                                   DWIGHT Y. TAKAMINE, Chair