STAND. COM. REP. NO. 1256

 

Honolulu, Hawaii

                  

 

RE:    H.B. No. 1627

       H.D. 2

       S.D. 2

 

 

 

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fifth State Legislature

Regular Session of 2009

State of Hawaii

 

Madam:

 

     Your Committee on Ways and Means, to which was referred H.B. No. 1627, H.D. 2, S.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS,"

 

begs leave to report as follows:

 

     The purpose of this measure is to authorize the issuance of special purpose revenue bonds for Carbon Diversion, Incorporated for the development of cogeneration facilities.

 

     Your Committee received two written comments on this measure.  The written comments may be reviewed on the Legislature's website.

 

     Your Committee finds that the hybrid gasification carbonization process developed by Carbon Diversion, Incorporated converts non-fossil fuel feedstock into carbon products and synthetic gas and will help reduce the State's dependence on fossil fuels.  The special purpose revenue bonds authorized by this measure will encourage the development of this renewal energy source.

 

     Your Committee amended this measure by changing the effective date to July 1, 2077, to facilitate further discussion on this measure.

 

     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 H.B. No. 1627, H.D. 2, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 1627, H.D. 2, S.D. 2.

 

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

 

 

 

____________________________

DONNA MERCADO KIM, Chair