STAND. COM. REP. NO.761

Honolulu, Hawaii

, 2001

RE: S.B. No. 1501

S.D. 2

 

 

Honorable Robert Bunda

President of the Senate

Twenty-First State Legislature

Regular Session of 2001

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred S.B. No. 1501, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO KAKAAKO COMMUNITY DEVELOPMENT,"

begs leave to report as follows:

The purpose of this measure is to require the Hawaii Community Development Authority to provide a multicultural village at Kakaako.

Upon further consideration of this bill, your Committee has deleted the entire contents of the measure and has instead replaced it with the authorization to issue special purpose revenue bonds for Hawaii Heritage Preservation Alliance to provide early childhood education and care facilities in Kakaako. The bonds are issued under part VII, chapter 39A, Hawaii Revised Statutes, relating to assisting not-for-profit corporations that provide early childhood education and care facilities serving the general public.

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. 1501, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 1501, S.D. 2.

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

____________________________

BRIAN T. TANIGUCHI, Chair