Bill Text: HI SB1280 | 2013 | Regular Session | Amended

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Special Purpose Revenue Bonds; Kona SWAC, LLC; Seawater Air Conditioning District Cooling System ($)

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Passed) 2013-07-02 - Act 238, on 6/27/2013 (Gov. Msg. No. 1341). [SB1280 Detail]

Download: Hawaii-2013-SB1280-Amended.html

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STAND. COM. REP. NO. 741

 

Honolulu, Hawaii

                  

 

RE:    S.B. No. 1280

       S.D. 2

 

 

 

Honorable Donna Mercado Kim

President of the Senate

Twenty-Seventh State Legislature

Regular Session of 2013

State of Hawaii

 

Madam:

 

     Your Committee on Ways and Means, to which was referred S.B. No. 1280, S.D. 1, entitled:

 

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

 

begs leave to report as follows:

 

     The purpose and intent of this measure is to authorize the issuance of special purpose revenue bonds to assist Kona SWAC, LLC, in constructing a portion of a seawater air conditioning district cooling system.

 

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

 

     Your Committee finds that Kona SWAC, LLC, seeks to develop a seawater air conditioning solution for Kona that precludes the need to cool water with electricity and instead uses seawater for cooling.  Your Committee believes that finding and developing new and innovative technologies that decrease the State's dependence on oil continues to be in the public interest.  Accordingly, your Committee finds that assisting in the financing for the construction of a portion of the seawater air conditioning district cooling system to serve Kona and nearby areas on the island of Hawaii furthers the State's interest in developing new and efficient energy systems.

 

     Your Committee has amended this measure by:

 

(1)  Amending the effective date from July 1, 2050, to July 1, 2013; and

 

(2)  Making a technical nonsubstantive amendment for the purpose of style.

 

     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 S.B. No. 1280, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 1280, S.D. 2.

 

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

 

		____________________________ DAVID Y. IGE, Chair