STAND. COM. REP. NO. 1533

Honolulu, Hawaii

RE: H.B. No. 776

H.D. 1

S.D. 2

Honorable Ronald D. Kouchi

President of the Senate

Thirty-First State Legislature

Regular Session of 2021

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred H.B. No. 776, H.D. 1, S.D. 1, entitled:

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

begs leave to report as follows:

The purpose and intent of this measure is to authorize the issuance of special purpose revenue bonds to assist Pueo Development, LLC, in building a master planned community on Hawaiian Home Lands.

Your Committee received written comments in support of this measure from the Department of Hawaiian Home Lands; Pueo Development, LLC; Waimanalo Hawaiian Homes Association; Waiohuli Hawaiian Homesteaders Association, Inc.; and five individuals.

Your Committee received written comments on this measure from the Department of Budget and Finance.

Your Committee finds that the special purpose revenue bonds authorized by this measure will support the development of low- and moderate-income housing, rental housing units, elderly care units, alternative energy systems, agriculture, and infrastructure.

Your Committee has amended this measure by changing the effective date to July 1, 2050, to facilitate further discussion on the measure.

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. 776, H.D. 1, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 776, H.D. 1, S.D. 2.

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

________________________________

DONOVAN M. DELA CRUZ, Chair