STAND. COM. REP. NO. 3107

 

Honolulu, Hawaii

                  

 

RE:    H.B. No. 2825

       H.D. 1

       S.D. 1

 

 

 

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fourth State Legislature

Regular Session of 2008

State of Hawaii

 

Madam:

 

     Your Committee on Energy and Environment, to which was referred H.B. No. 2825, H.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST SOPOGY INC., IN THE DEVELOPMENT OF RENEWABLE ENERGY ON THE ISLAND OF OAHU,"

 

begs leave to report as follows:

 

     The purpose of this measure is to authorize the issuance of special purpose revenue bonds in an amount not exceeding $35,000,000 to assist Sopogy, Inc. with planning, designing, construction, equipping, and operating a solar farm power plant on the island of Oahu to produce electricity from solar power.

 

     Testimony in support of the measure was submitted by the Hawaii Renewable Energy Alliance, the High Technology Development Corporation, and Sopogy, Inc.  Comments on the measure were submitted by the Department of Budget and Finance and the Department of the Attorney General.

 

     Your Committee finds that pursuant to part V, chapter 39A, Hawaii Revised Statutes, special purpose revenue bonds may be issued to assist industrial enterprises.  This measure will support the energy needs of the State by helping Sopogy, Inc. to plan, design, construct, equip, and operate a solar farm power plant on the island of Oahu to produce electricity from solar power.  Your Committee believes that the issuance of special purpose revenue bonds under this measure is in the public interest and for the public's general welfare.

 

     Accordingly, your Committee has amended this measure by deleting its contents and replacing it with the language from S.B. No. 3190, which:

 

     (1)  Authorizes the issuance of special purpose revenue bonds for Sopogy, Inc., pursuant to part V, chapter 39A, Hawaii Revised Statutes, rather than part VI, chapter 39A, Hawaii Revised Statutes;

 

     (2)  Makes the measure effective upon its approval, rather than on July 1, 2008; and

 

     (3)  Makes technical, nonsubstantive changes for purposes of clarity and to reflect preferred drafting style.

 

     As affirmed by the record of votes of the members of your Committee on Energy and Environment that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2825, H.D. 1, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 2825, H.D. 1, S.D. 1, and be referred to the Committee on Ways and Means.

 

Respectfully submitted on behalf of the members of the Committee on Energy and Environment,

 

 

 

____________________________

RON MENOR, Chair