Bill Text: HI HB40 | 2010 | Regular Session | Amended
Bill Title: Special Purpose Revenue Bonds; Carbon Diversion Inc.; Repeal
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Passed) 2010-04-16 - (S) Act 029, 4/16/2010 (Gov. Msg. No. 487). [HB40 Detail]
Download: Hawaii-2010-HB40-Amended.html
STAND. COM. REP. NO. 2727
Honolulu, Hawaii
RE: H.B. No. 40
H.D. 1
Honorable Colleen Hanabusa
President of the Senate
Twenty-Fifth State Legislature
Regular Session of 2010
State of Hawaii
Madam:
Your Committee on Energy and Environment, to which was referred H.B. No. 40, H.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO STATE BONDS,"
begs leave to report as follows:
The purpose of this measure is to repeal Act 112, Session Laws of Hawaii 2009, which authorized the issuance of special purpose revenue bonds to assist Carbon Diversion Inc.
No testimony was received on this measure.
Your Committee finds that this measure's repeal of the special purpose revenue bond authorization is due to concern over a change in ownership of Carbon Diversion Inc, which was followed by a Securities and Exchange Commission investigation of the new owners and subsequent filing of a complaint in Federal District Court.
As affirmed by the record of votes of the members of your Committee on Energy and Environment that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 40, H.D. 1, and recommends that it pass Second Reading and be referred to the Committee on Ways and Means.
Respectfully submitted on behalf of the members of the Committee on Energy and Environment,
|
|
|
____________________________ MIKE GABBARD, Chair |
|
|
|
|
