STAND. COM. REP. NO. 3402

Honolulu, Hawaii

RE:    H.B. No. 2543

       S.D. 1

Honorable Donna Mercado Kim

President of the Senate

Twenty-Seventh State Legislature

Regular Session of 2014

State of Hawaii

Madam:

     Your Committee on Ways and Means, to which was referred H.B. No. 2543, S.D. 1, 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 and intent of this measure is to authorize the Department of Budget and Finance to issue special purpose revenue bonds to assist BioTork Hawaii LLC in the production of a facility to convert agricultural crops and by-products to biofuels and high-protein feed.

     Your Committee received written comments in support of this measure from the Department of Agriculture, the Agribusiness Development Corporation, and the Hawaii Farm Bureau Federation.  The Department of Budget and Finance submitted written comments on this measure.

     Your Committee finds that supporting the construction of a facility to convert crops, crop residue, and agricultural waste into biofuels, high-protein feed, and other valuable products will enhance the agricultural industry, increase energy initiatives, and promote sustainability.

     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 H.B. No. 2543, S.D. 1, and recommends that it pass Third Reading.

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

____________________________

DAVID Y. IGE, Chair