STAND. COM. REP. NO.13
Honolulu, Hawaii
, 2001
RE: H.B. No. 14
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-First State Legislature
Third Special Session of 2001
State of Hawaii
Sir:
Your Committee on Finance, to which was referred H.B. No. 14 entitled:
"A BILL FOR AN ACT RELATING TO CAPITAL IMPROVEMENT PROJECTS,"
begs leave to report as follows:
The purpose of this bill is to help stimulate Hawaii's economic recovery by authorizing approximately $100,000,000 in additional public works projects throughout the State. This bill also:
(1) Advances the authorizations for several public works projects approved in the General Appropriations Act of 2001 from fiscal year 2002-2003 to the current fiscal year;
(2) Appropriates $5,500,000 to pay for interest and principal on general obligation bonds; and
(3) Declares findings that the total amount of principal and interest, estimated for such bonds authorized but unissued and calculated for all bonds issued and outstanding, will not cause the debt limit to be exceeded at the time of issuance.
Testimony in support of this measure was received from the Visitor Industry Coalition, the Department of Budget and Finance, the Department of Accounting and General Services, the Hawaii State Teachers Association, the General Contractors Association of Hawaii, the Hawaii Business Roundtable, the University of Hawaii, the Rotary Club of Kapolei, the Waianae Hawaiian Civic Club, the Building Industry Association of Hawaii, the Chamber of Commerce of Hawaii, the Hawaii Building and Construction Trades Council, AFL-CIO, the Subcontractors Association of Hawaii, Hawaiian Waters Adventure Park, and other concerned citizens.
The events of September 11,2001,have had a tremendous influence on both the national and state economies, unexpectedly affecting the livelihood of millions of citizens. Tourism, Hawaii's principal industry, accounts for nearly $10.9 billion in general revenues each year and was severely impacted by these attacks. The number of travelers to the State has decreased by between twenty and fifty percent, which has not only affected the tourism industry but the economy of the entire State.
Dealing with this economic crisis is one reason the Governor has convened a special session. Your Committee feels that in order to avoid an economic catastrophe, immediate steps must be taken not only to help the tourism industry but also Hawaii's ailing construction industry as well. This bill will ensure employment for many construction workers through the development, maintenance, and improvement of physical plants and infrastructure to support education and a skilled workforce, areas that are fundamental to all economic activity.
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. 14 and recommends that it pass Second Reading and be placed on the calendar for Third Reading.
Respectfully submitted on behalf of the members of the Committee on Finance,
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____________________________ DWIGHT Y. TAKAMINE, Chair |
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