STAND. COM. REP. NO. 2035

Honolulu, Hawaii

, 2006

RE: S.B. No. 2459

 

 

Honorable Robert Bunda

President of the Senate

Twenty-Third State Legislature

Regular Session of 2006

State of Hawaii

Sir:

Your Committee on Transportation and Government Operations, to which was referred S.B. No. 2459 entitled:

"A BILL FOR AN ACT RELATING TO CONCESSIONS ON PUBLIC PROPERTY,"

begs leave to report as follows:

The purpose of this measure is to assist smaller concessionaires by giving the State the flexibility to accept legal tender and financial instruments other than performance bonds as security for the performance of their concession contracts.

Your Committee received testimony in support of this measure from the Department of Transportation and Airport Concessionaires Committee.

Your Committee finds that in the wake of the events of September 11, 2001, bonds have become increasingly expensive and difficult to obtain for concessionaires. This measure provides concessionaires with flexibility to reduce costs that are presently associated with financial security requirements.

As affirmed by the record of votes of the members of your Committee on Transportation and Government Operations that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2459 and recommends that it pass

Second Reading and be referred to the Committee on Commerce, Consumer Protection, and Housing.

Respectfully submitted on behalf of the members of the Committee on Transportation and Government Operations,

____________________________

LORRAINE R. INOUYE, Chair