STAND. COM. REP. NO. 3127

 

Honolulu, Hawaii

                  

 

RE:    H.B. No. 2593

       H.D. 1

       S.D. 1

 

 

 

Honorable Ronald D. Kouchi

President of the Senate

Twenty-Eighth State Legislature

Regular Session of 2016

State of Hawaii

 

Sir:

 

     Your Committees on Transportation and Energy and Water, Land, and Agriculture, to which was referred H.B. No. 2593, H.D. 1, entitled:

 

"A BILL FOR AN ACT AUTHORIZING THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS FOR HAWAII RENEWABLE RESOURCES, LLC,"

 

beg leave to report as follows:

 

     The purpose and intent of this measure is to authorize the issuance of special purpose revenue bonds for the purpose of assisting Hawaii Renewable Resources, LLC, with the establishment and funding of food, animal feed, and energy production; waste recovery; and related facilities on the island of Oahu.

 

     Your Committees received testimony in support of this measure from the Department of Agriculture; Agribusiness Development Corporation; Hawaii Farm Bureau; Renewable Energy Action Coalition of Hawaii; and Hawaii Renewable Resources, LLC.  Your Committees received comments on this measure from the Department of Budget and Finance.

 

     Your Committees find that one of the challenges the Hawaii agriculture industry is facing today is the skyrocketing cost of imported feed.  This measure will authorize the issuance of special purpose revenue bonds to Hawaii Renewable Resources, LLC, which will help provide the public with greater sources of renewable energy as well as food crop and animal feed from sources indigenous to Oahu, without investment or risk to the State or counties.

 

     Your Committees have amended this measure by:

 

     (1)  Authorizing the issuance of $30,000,000 in special purpose revenue bonds;

 

     (2)  Inserting an effective date of July 1, 2016; and

 

     (3)  Making technical, nonsubstantive amendments for the purposes of clarity and consistency.

 

     As affirmed by the records of votes of the members of your Committees on Transportation and Energy and Water, Land, and Agriculture that are attached to this report, your Committees are in accord with the intent and purpose of H.B. No. 2593, H.D. 1, as amended herein, and recommend that it pass Second Reading in the form attached hereto as H.B. No. 2593, H.D. 1, S.D. 1, and be referred to your Committee on Ways and Means.

 

Respectfully submitted on behalf of the members of the Committees on Transportation and Energy and Water, Land, and Agriculture,

 

________________________________

MIKE GABBARD, Chair

 

________________________________

LORRAINE R. INOUYE, Chair