STAND. COM. REP. NO.  657

Honolulu, Hawaii

                , 2015

RE:   H.B. No. 242

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Eighth State Legislature

Regular Session of 2015

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No. 242 entitled:

"A BILL FOR AN ACT RELATING TO SEAWATER AIR CONDITIONING,"

begs leave to report as follows:

The purpose of this measure is to support development in the State of a renewable and efficient energy system that utilizes abundant natural resources in place of fuel and electricity by extending, from June 30, 2015, to June 30, 2020, the authorization to issue special purpose revenue bonds to assist Honolulu Seawater Air Conditioning in financing the design and construction of a seawater air conditioning district cooling system on Oahu.

Honolulu Seawater Air Conditioning, Ulupono Initiative, and Blue Planet Foundation supported this measure.

     As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 242 and recommends that it pass Third Reading.

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

____________________________

SYLVIA LUKE, Chair