STAND. COM. REP. NO. 3540

 

Honolulu, Hawaii

                

 

RE:    H.B. No. 2559

       H.D. 1

       S.D. 1

 

 

 

Honorable Ronald D. Kouchi

President of the Senate

Twenty-Ninth State Legislature

Regular Session of 2018

State of Hawaii

 

Sir:

 

     Your Committee on Ways and Means, to which was referred H.B. No. 2559, H.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO SPECIAL PURPOSE REVENUE BONDS TO ASSIST SPINLAUNCH,"

 

begs leave to report as follows:

 

     The purpose and intent of this measure is to authorize the Department of Budget and Finance to issue special purpose revenue bonds to assist Spinlaunch Inc., in the development of an electrically powered, kinetic launch system that will transport small satellites into low Earth orbit.

 

     Your Committee received written comments in support of this measure from the Oahu County Committee on Legislative Priorities of the Democratic Party of Hawai`i and one concerned individual.

 

     Your Committee received written comments in opposition to this measure from the Hawaii County Council, Big Island Fisheries Alliance, Hawaiian Ocean View Community, Hawaiian Ranchos Community Association, and thirty-two concerned individuals.

 

     Your Committee received written comments on this measure from the Department of Budget and Finance and one concerned individual.

 

     Your Committee finds that the development of a small satellite launch system in Hawaii could benefit the State's economy.  Your Committee further finds that the construction of an electronically powered, kinetic launch system constitutes a project as defined in part V, Chapter 39A, Hawaii Revised Statutes, and the financing thereof is assistance to an industrial enterprise.

 

     Your Committee has amended this measure to not specify where in the State the launch facility will be located.

 

     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. 2559, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 2559, H.D. 1, S.D. 1.

 

 

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

 

 

 

 

________________________________

DONOVAN M. DELA CRUZ, Chair