Bill Text: HI SB1214 | 2012 | Regular Session | Amended

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Bill Title: Special Purpose Revenue Bonds; Pacific Power and Water Company, Inc.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Engrossed - Dead) 2011-12-01 - Carried over to 2012 Regular Session. [SB1214 Detail]

Download: Hawaii-2012-SB1214-Amended.html

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STAND. COM. REP. NO. 786

 

Honolulu, Hawaii

                  

 

RE:    S.B. No. 1214

       S.D. 2

 

 

 

Honorable Shan S. Tsutsui

President of the Senate

Twenty-Sixth State Legislature

Regular Session of 2011

State of Hawaii

 

Sir:

 

     Your Committee on Ways and Means, to which was referred S.B. No. 1214, S.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST PACIFIC POWER AND WATER COMPANY, INC,"

 

begs leave to report as follows:

 

     The purpose and intent of this measure is to promote development of hydropower facilities throughout the State by authorizing the issuance of special purpose revenue bonds for Pacific Power and Water Company, Inc.

 

     Your Committee received comments in support of this measure from Patrick Sullivan, Chairman, Pacific Power & Water Company, Inc.

 

     Your Committee received comments on this measure from Kalbert K. Young, Director, Department of Budget and Finance.

 

     Your Committee finds that hydropower facilities will reduce the State's reliance on imported fossil fuel, generate revenue for dam maintenance and repair, and generate jobs in the renewable energy sector.

 

     Your Committee has amended this measure by 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 Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1214, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 1214, S.D. 2.

 

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

 

		____________________________ DAVID Y. IGE, Chair