STAND. COM. REP. NO. 1971

Honolulu, Hawaii

, 2019

RE: S.B. No. 985

S.D. 1

H.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirtieth State Legislature

Regular Session of 2019

State of Hawaii

Sir:

Your Committee on Finance, to which was referred S.B. No. 985, S.D. 1, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST PEARL HARBOR FLOATING DRYDOCK, LLC,"

begs leave to report as follows:

The purpose of this measure is to authorize the issuance of special purpose revenue bonds to assist Pearl Harbor Floating Drydock, LLC, in the construction of a purpose-built floating drydock at Pearl Harbor to service submarines and surface ships.

The Chamber of Commerce Hawaii, Ship Repair Association of Hawaii, and a few individuals submitted testimony in support of this measure. The Department of Budget and Finance submitted comments.

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 S.B. No. 985, S.D. 1, H.D. 1, and recommends that it pass Third Reading.

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

____________________________

SYLVIA LUKE, Chair