STAND. COM. REP. NO. 2666

 

Honolulu, Hawaii

                  

 

RE:    S.B. No. 146

       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 Ways and Means, to which was referred S.B. No. 146 entitled:

 

"A BILL FOR AN ACT RELATING TO STATE FUNDS,"

 

begs leave to report as follows:

 

     The purpose of this measure is to clarify the administration of special funds in the State.

 

     Your Committee heard, in place of the original draft of Senate Bill No. 146 (2008), a proposed S.D. 1 draft that repeals the hydrogen investment capital special fund.

 

Your Committee received testimony in opposition to the proposed S.D. 1 draft from the Office of the Governor, Department of Business, Economic Development, and Tourism, Kolohala Holdings, Edutainment Resources, Inc., Global Education Trust, HARK, Inc., Ocean Network, LLC, Bill Spencer, on behalf of the Hawaii Venture Capital Association, Technical Research Associates, Inc., Archinoetics, LLC, Simonpietri Enterprises, and four individuals.

 

     Upon further consideration, your Committee has amended this measure by replacing the contents of S.B. No. 146 with provisions that amend the hydrogen investment capital special fund by:

 

(1)  Changing the name of the special fund from the "hydrogen investment capital special fund" to the "renewable energy investment capital special fund";

 

(2)  Inserting an additional purpose for which moneys in the special fund may be used, specifically, to support the activities of the strategic industries program related to the development of renewable energy resources and technologies in Hawaii; and

 

(3)  Making technical nonsubstantive conforming amendments to section 211F‑5.7, Hawaii Revised Statutes, establishing the special fund.

 

Your Committee notes that the renamed special fund allows for the continuation and funding of the Hawaii renewable hydrogen program.

 

     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. 146, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 146, S.D. 1, and be placed on the calendar for Third Reading.

 

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

 

 

 

____________________________

ROSALYN H. BAKER, Chair