STAND. COM. REP. NO. 2088

 

Honolulu, Hawaii

                  

 

RE:    S.B. No. 2926

       S.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 S.B. No. 2926 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 issuance of up to $40,000,000 in special purpose revenue bonds to assist Carbon Bio‑Engineers Inc., with the establishment of cogeneration and related energy-production facilities at various locations in the State.

 

     Testimony in support of this measure was submitted by one homestead association, one private organization, and two businesses.  One state agency submitted comments.

 

     Written testimony presented to the Committee may be reviewed on the Legislature's website.

 

     Your Committee understands that Carbon Bio-Engineers Inc. will be utilizing a patented technology developed at the Hawaii Natural Energy Institute, University of Hawaii, to reduce various waste streams to useful, high-yield marketable products.  In addition, the project will contribute to the standards projected for cogeneration facilities by the Hawai‘i Clean Energy Initiative, and will provide employment where the facilities are located.

 

     Your Committee has amended this measure by making technical, nonsubstantive amendments for the purpose of consistency.

 

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