STAND. COM. REP. NO. 74

                                   Honolulu, Hawaii
                                                     , 1999

                                   RE:  S.B. No. 1443
                                        




Honorable Norman Mizuguchi
President of the Senate
Twentieth State Legislature
Regular Session of 1999
State of Hawaii

Sir:

     Your Committee on Economic Development, to which was
referred S.B. No. 1443 entitled: 

     "A BILL FOR AN ACT RELATING TO SPECIAL PURPOSE REVENUE
     BONDS,"

begs leave to report as follows:
     
     The purpose of this measure is to authorize the issuance of
special purpose revenue bonds for the purpose of assisting the
marketing of the hotel industry in Hawaii for incentives, special
events, small conventions, and constructing a facility in
Waikoloa, Hawaii.

     Your Committee received comments on this measure from the
Department of Business, Economic Development, and Tourism and the
Department of Budget and Finance.

     Your Committee finds that improving the visitor industry on
the Island of Hawaii will help the economy of the Big Island, as
well as the State as a whole.  A facility serving the business
and small convention traveler will provide both short term
construction jobs and long term new visitor industry employment,
as well as statewide alternatives to attract this growing market
segment.

     As affirmed by the record of votes of the members of your
Committee on Economic Development that is attached to this
report, your Committee is in accord with the intent and purpose

 
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                                   STAND. COM. REP. NO. 74
                                   Page 2


of S.B. No. 1443 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 Economic
                                   Development,



                                   ______________________________
                                   LORRAINE R. INOUYE, Chair

 
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