STAND. COM. REP. NO. 830________

                                 Honolulu, Hawaii
                                                   , 1999

                                 RE: H.B. No. 979
                                     H.D. 2




Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twentieth State Legislature
Regular Session of 1999
State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No.
979, H.D. 1, entitled: 

     "A BILL FOR AN ACT RELATING TO AGRICULTURAL LOANS,"

begs leave to report as follows:

     The purpose of this bill is to:

     (1)  Reduce the number of credit denials required for the
          Department of Agriculture's (DOA) agricultural loan
          program;

     (2)  Include credit unions in the definition of a "private
          lender";

     (3)  Allow DOA to jointly service and collect on its portion
          of participation loans; and

     (4)  Provide low interest financing to agricultural
          producers directly affected by State eradication
          programs.

     DOA commented on this measure.

     Your Committee has amended this measure by making technical,
nonsubstantive amendments for purposes of clarity and style.

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

 
 
                                 STAND. COM. REP. NO. 830________
                                 Page 2

 
Committee is in accord with the intent and purpose of H.B. No.
979, H.D. 1, as amended herein, and recommends that it pass Third
Reading in the form attached hereto as H.B. No. 979, H.D. 2.

                                   Respectfully submitted on
                                   behalf of the members of the
                                   Committee on Finance,



                                   ______________________________
                                   DWIGHT Y. TAKAMINE, Chair