STAND. COM. REP. NO.  398-14

Honolulu, Hawaii

                , 2014

RE:   H.B. No. 2543

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Seventh State Legislature

Regular Session of 2014

State of Hawaii

Sir:

     Your Committee on Energy & Environmental Protection, to which was referred H.B. No. 2543 entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST BIOTORK HAWAII LLC,"

begs leave to report as follows:

The purpose of this measure is to issue special purpose revenue bonds of up to $50,000,000 for BioTork Hawaii LLC for the development and operation of a facility to convert agricultural crops and by-products to biofuels and high-protein feed.

Agribusiness Development Corporation; BioTork Hawaii, LLC; and a concerned individual testified in support of this measure.  A concerned individual testified in opposition of this measure.  The Department of Budget and Finance commented on this measure.

     As affirmed by the record of votes of the members of your Committee on Energy & Environmental Protection that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2543 and recommends that it pass Second Reading and be referred to the Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Energy & Environmental Protection,

____________________________

CHRIS LEE, Chair