STAND. COM. REP. NO. 745________

                                 Honolulu, Hawaii
                                                   , 1999

                                 RE: H.B. No. 983
                                     




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.
983 entitled: 

     "A BILL FOR AN ACT MAKING AN EMERGENCY APPROPRIATION FOR THE
     AGRIBUSINESS DEVELOPMENT CORPORATION,"

begs leave to report as follows:

     The purpose of this measure is to provide an immediate
increase in the revolving fund ceiling in fiscal year 1998-1999
for the Agribusiness Development Corporation.

     Your Committee has received a message from the Governor,
dated January 29, 1999:

     (1)  Stating that additional funding is needed to reimburse
          the papaya industry for securing patent licenses; and

     (2)  Requesting the Legislature for immediate passage of
          this bill to ensure commercialization of transgenic
          papaya and allow the Agribusiness Development
          Corporation to carry on its ongoing projects.

     The Agribusiness Development Corporation commented on the
measure.

     As affirmed by the record of votes of the members of your
Committee on Finance that is attached to this report, your
Committee is in accord with the intent and purpose of H.B. No.
983 and recommends that it pass Third Reading.


 
                                 STAND. COM. REP. NO. 745________
                                 Page 2

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



                                   ______________________________
                                   DWIGHT Y. TAKAMINE, Chair