STAND. COM. REP. NO. 953

                                   Honolulu, Hawaii
                                                     , 1999

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




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

Sir:

     Your Committee on Economic Development, to which was
referred H.B. No. 979, H.D. 2, entitled: 

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

begs leave to report as follows:
     
     The purpose of this measure is to add credit unions to the
definition of "private lender", reduce the number of credit
denials required for the Department of Agriculture's loan
program, and provide low interest financing to agricultural
producers directly affected by State eradication programs.

     Your Committee received testimony in support of this measure
from the Department of Agriculture.

     Your Committee finds that this measure will expand loan
opportunities for farmers, which is of critical importance for
the continued growth of agriculture as a economic benefactor for
Hawaii.  Your Committee is supportive of all efforts to assist
Hawaii's agricultural industry in its successful diversification
and expansion.

     As affirmed by the record of votes of the members of your
Committee on Economic Development that is attached to this
report, your Committee is in accord with the intent and purpose
of H.B. No. 979, H.D. 2, and recommends that it pass Second
Reading and be referred to the Committee on Ways and Means.


 
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                                   STAND. COM. REP. NO. 953
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                                   Respectfully submitted on
                                   behalf of the members of the
                                   Committee on Economic
                                   Development,



                                   ______________________________
                                   LORRAINE R. INOUYE, Chair

 
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