Bill Text: HI HB2248 | 2012 | Regular Session | Amended

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Bill Title: Special Purpose Revenue Bonds; Hawaii Pacific University

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Passed) 2012-07-10 - (S) Act 305, 7/9/2012 (Gov. Msg. No. 1422). [HB2248 Detail]

Download: Hawaii-2012-HB2248-Amended.html

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CONFERENCE COMMITTEE REP. NO. 117-12

 

Honolulu, Hawaii

                 , 2012

 

RE:    H.B. No. 2248

       H.D. 2

       S.D. 2

       C.D. 1

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Sixth State Legislature

Regular Session of 2012

State of Hawaii

 

Honorable Shan S. Tsutsui

President of the Senate

Twenty-Sixth State Legislature

Regular Session of 2012

State of Hawaii

 

Sirs:

 

     Your Committee on Conference on the disagreeing vote of the House of Representatives to the amendments proposed by the Senate in H.B. No. 2248, H.D. 2, S.D. 2, entitled:

 

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

 

having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.

 

     The purpose of this measure is to support higher education in the State by authorizing the issuance of up to $120,000,000 in special purpose revenue bonds to assist Hawaii Pacific University and one or more of its not-for-profit affiliates to finance, refinance, and reimburse costs related to the planning, acquisition, and construction of various capital projects.

 

     Your Committee on Conference has amended this measure by:

 

     (1)  Removing language specifying that the Department of Budget and Finance, in determining whether to issue special purpose revenue bonds authorized by this measure, shall comply with federal law relating to the exemption from federal income taxation of the interest on such bonds only to the extent practicable;

 

     (2)  Removing language specifying that interest on bonds issued under this measure may be excluded from or included in gross income for federal income tax purposes; and

 

     (3)  Making technical, nonsubstantive amendments for consistency.

 

     As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of H.B. No. 2248, H.D. 2, S.D. 2, as amended herein, and recommends that it pass Final Reading in the form attached hereto as H.B. No. 2248, H.D. 2, S.D. 2, C.D. 1.

 

Respectfully submitted on behalf of the managers:

 

ON THE PART OF THE SENATE

ON THE PART OF THE HOUSE

 

____________________________ JILL TOKUDA, Chair		______________________________ SCOTT NISHIMOTO, Co-Chair
____________________________ MICHELLE KIDANI, Co-Chair		______________________________ JAMES KUNANE TOKIOKA, Co-Chair