STAND. COM. REP. NO. 1873

Honolulu, Hawaii

RE: H.B. No. 660

H.D. 1

S.D. 2

Honorable Ronald D. Kouchi

President of the Senate

Thirty-Second State Legislature

Regular Session of 2023

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred H.B. No. 660, H.D. 1, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS FOR NOT-FOR-PROFIT CORPORATIONS THAT PROVIDE HEALTH CARE FACILITIES TO THE GENERAL PUBLIC,"

begs leave to report as follows:

The purpose and intent of this measure is to authorize the issuance of special purpose revenue bonds in a total amount not to exceed $240,000,000, for the purpose of assisting Hawaii Pacific Health, a Hawaii nonprofit corporation, and its nonprofit affiliates to finance construction, improvements, and equipment costs at Straub Medical Center.

Your Committee received written comments in support of this measure from Hawaii Pacific Health.

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

Your Committee recognizes that pursuant to part II of Chapter 39A, Hawaii Revised Statutes, the Department of Budget and Finance may issue special purpose revenue bonds to finance projects for not-for-profit corporations that provide health care facilities to the general public. Your Committee finds that the projects at Straub Medical Center meet this statutory criteria, as the projects are ultimately intended to redevelop the Center into a future-forward medical facility for the community.

Your Committee has amended this measure by changing the:

(1) Special purpose revenue bond authorization from $240,000,000 to an unspecified amount; and

(2) 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. 660, 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. 660, 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