STAND. COM. REP. NO. 2661

Honolulu, Hawaii

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 Commerce, Consumer Protection, and Housing, 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.

Testimony in support of this measure was submitted by the Department of Transportation and the Airport Concessionaires Committee. No testimony in opposition to this measure was received by your Committee.

Your Committee finds that it has become increasingly difficult and costly for smaller concessionaires at airports to obtain performance bonds. This measure provides these smaller concessionaires with flexibility and the ability 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 Commerce, Consumer Protection, and Housing 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 Third Reading.

Respectfully submitted on behalf of the members of the Committee on Commerce, Consumer Protection, and Housing,

____________________________

RON MENOR, Chair