STAND. COM. REP. NO. 675

                                   Honolulu, Hawaii
                                                     , 1999

                                   RE:  S.B. No. 1608
                                        S.D. 1




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

Sir:

     Your Committee on Ways and Means, to which was referred S.B.
No. 1608 entitled: 

     "A BILL FOR AN ACT AUTHORIZING THE ISSUANCE OF SPECIAL
     PURPOSE REVENUE BONDS FOR NOT-FOR-PROFIT CORPORATIONS THAT
     PROVIDE HEALTH CARE FACILITIES,"

begs leave to report as follows:

     The purpose of this bill is to authorize the issuance of
special purpose revenue bonds to fund the establishment of health
care facilities in the State by not-for-profit corporations.

     This measure specifically authorizes the issuance of special
purpose revenue bonds to five different entities to establish
various health care facilities as follows:

     Part I    $5,000,000 for the Pacific Women's Center, Inc.;

     Part II   $500,000 for the Pacific Saging Center, Inc.;

     Part III  $20,000,000 for the Pacific Sports Medicine &
               Research Inc.;

     Part IV   $15,000,000 for the Pacific Cardiac Institute,
               Inc.; and 


 
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                                   STAND. COM. REP. NO. 675
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     Part V    $5,000,000 for the Pacific Wellness Center;

     The authorization for these special purpose revenue bonds
lapses on June 30, 2001.

     Your Committee finds that it is essential to the health and
well being of the State to have quality and affordable health
care.  These special purpose revenue bonds will assist in the
financing of projects towards that purpose.

     Your Committee has made technical nonsubstantive amendments
to the measure.

     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 S.B.
No. 1608, as amended herein, and recommends that it pass Third
Reading in the form attached hereto as S.B. No. 1608, S.D. 1.

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



                                 ________________________________
                                 CAROL FUKUNAGA, Co-Chair



                                 ________________________________
                                 ANDREW LEVIN, Co-Chair

 
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