STAND. COM. REP. NO. 1254

                                   Honolulu, Hawaii
                                                     , 1999

                                   RE:  H.B. No. 801
                                        H.D. 1




Honorable Norman Mizuguchi
President of the Senate
Twentieth State Legislature
Regular Session of 1999
State of Hawaii

Sir:

     Your Committee on Ways and Means, to which was referred H.B.
No. 801, H.D. 1, entitled: 

     "A BILL FOR AN ACT RELATING TO SPECIAL PURPOSE REVENUE BONDS
     FOR PROCESSING ENTERPRISES,"

begs leave to report as follows:

     The purpose of this bill is to authorize the issuance of
special purpose revenue bonds for a processing enterprise.

     Specifically, this measure authorizes a bond amount of
$3,000,000 to assist CEATECH USA in planning and building a
processing plant for shrimp.

     Your Committee finds that the financing for the construction
of a shrimp processing plant is absolutely essential for the
evolution and growth of a shrimp operation on Kauai which will
yield large economic gains for the State as a whole.  Your
Committee finds that Kauai is primed to become a domestic
supplier of shrimp, which for the most part is now imported from
abroad.  Kauai enjoys optimal geographic and climatic conditions
for the production of shrimp, and the phasing out of the sugar
industry means that an ample supply of land and labor is ready
for use in a new industry.

     As affirmed by the record of votes of the members of your
Committee on Ways and Means that is attached to this report, your

 
a                                                     HB801 HD1
 
 
                                   STAND. COM. REP. NO. 1254
                                   Page 2


Committee is in accord with the intent and purpose of H.B. No.
801, H.D. 1, and recommends that it pass Third Reading.

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



                                 ________________________________
                                 CAROL FUKUNAGA, Co-Chair



                                 ________________________________
                                 ANDREW LEVIN, Co-Chair

 
a                                                     HB801 HD1