STAND. COM. REP. NO.  1122

 

Honolulu, Hawaii

                , 2015

 

RE:   S.B. No. 1042

      S.D. 1

      H.D. 1

 

 

 

 

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Eighth State Legislature

Regular Session of 2015

State of Hawaii

 

Sir:

 

     Your Committee on Energy & Environmental Protection, to which was referred S.B. No. 1042, S.D. 1, entitled:

 

"A BILL FOR AN ACT AUTHORIZING THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS FOR SUNSTRONG LLC, A RENEWABLE ENERGY DEVELOPER SERVING THE GENERAL PUBLIC IN PROVIDING ELECTRIC ENERGY,"

 

begs leave to report as follows:

 

     The purpose of this measure is to authorize the Department of Budget and Finance, with the approval of the Governor, to issue up to $50,000,000 in special purpose revenue bonds to assist SunStrong LLC in providing renewable electric energy and installing renewable energy projects in Hawaii.

 

     SunStrong LLC supported this measure.  The Department of Budget and Finance commented on this measure.

 

     Your Committee has amended this measure by changing the amount of special purpose revenue bonds authorized to an unspecified amount.

 

     Should the Committee on Finance deliberate this measure further, your Committee respectfully requests that it consider authorizing the issuance of up to $50,000,000 in special purpose revenue bonds for the purposes of this measure.

 

     As affirmed by the record of votes of the members of your Committee on Energy & Environmental Protection that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1042, S.D. 1, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 1042, S.D. 1, H.D. 1, and be referred to the Committee on Finance.

 

Respectfully submitted on behalf of the members of the Committee on Energy & Environmental Protection,

 

 

 

 

____________________________

CHRIS LEE, Chair