Bill Text: HI SB2939 | 2012 | Regular Session | Amended

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

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Bill Title: St. Francis Healthcare System; Hawaii Medical Center East; Special Purpose Revenue Bonds

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2012-07-06 - (S) Act 227, 7/5/2012 (Gov. Msg. No. 1330). [SB2939 Detail]

Download: Hawaii-2012-SB2939-Amended.html

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STAND. COM. REP. NO. 2336

 

Honolulu, Hawaii

                  

 

RE:    S.B. No. 2939

       S.D. 1

 

 

 

Honorable Shan S. Tsutsui

President of the Senate

Twenty-Sixth State Legislature

Regular Session of 2012

State of Hawaii

 

Sir:

 

     Your Committee on Health, to which was referred S.B. No. 2939 entitled:

 

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST ST. FRANCIS HEALTHCARE SYSTEM OF HAWAII,"

 

begs leave to report as follows:

 

     The purpose and intent of this measure is to authorize the issuance of special purpose revenue bonds of up to $80,000,000 for St. Francis Healthcare System of Hawaii to construct healthcare facilities.

 

     Your Committee received testimony in support of this measure from the Heathcare Association of Hawaii, The Queen's Heath Systems, St. Francis Heathcare System of Hawaii, and the Hawaii Medical Association.  Your Committee received comments on this measure from the Department of Budget and Finance and the Tax Foundation of Hawaii.

 

     Your Committee finds that supporting St. Francis Healthcare System of Hawaii through the issuance of special purpose revenue bonds is in the public interest and for the public health, safety, and general welfare.

 

     Your Committee has amended this measure by:

 

     (1)  Inserting language from the Department of Budget and Finance regarding the issuance of refunding special purpose revenue bonds;

 

     (2)  Inserting an effective date of January 1, 2050, to allow for further discussion; and

 

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

 

     As affirmed by the record of votes of the members of your Committee on Health that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2939, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 2939, S.D. 1, and be referred to the Committee on Ways and Means.

 

Respectfully submitted on behalf of the members of the Committee on Health,

 

		____________________________ JOSH GREEN, M.D., Chair