Bill Text: HI SB2926 | 2010 | Regular Session | Amended

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Bill Title: Special Purpose Revenue Bonds; Carbon Bio-Engineers, Inc.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Engrossed - Dead) 2010-03-04 - (H) Referred to EEP, FIN, referral sheet 37 [SB2926 Detail]

Download: Hawaii-2010-SB2926-Amended.html

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STAND. COM. REP. NO. 2528

 

Honolulu, Hawaii

                  

 

RE:    S.B. No. 2926

       S.D. 2

 

 

 

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fifth State Legislature

Regular Session of 2010

State of Hawaii

 

Madam:

 

     Your Committee on Ways and Means, to which was referred S.B. No. 2926, S.D. 1, entitled:

 

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

 

begs leave to report as follows:

 

     The purpose of this measure is to authorize the issuance of up to $40,000,000 in special purpose revenue bonds for Carbon Bio- Engineers, Inc. to develop and produce non-fossil fuel energy.

 

     Your Committee received comments in support of this measure from Carbon Bio-Engineers, Inc.  Written comments may be reviewed on the Legislature's website.

 

     Your Committee finds that Carbon Bio-Engineers, Inc. is engaged in the development of cogeneration facilities that process non-fossil fuel feedstock to produce energy related carbon products and electricity.  Your Committee believes that the development of alternate energy sources is vital to environmental quality and consistent with the State's energy policy of energy efficiency and sustainability.

 

     Your Committee has amended this measure by:

 

     (1)  Changing the effective date to July 1, 2099 to facilitate further discussion; and

 

     (2)  Making technical, nonsubstantive changes for the purposes of clarity and style.

 

     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 S.B. No. 2926, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2926, S.D. 2.

 

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

 

		____________________________ DONNA MERCADO KIM, Chair