STAND. COM. REP. NO. 625-00

                                 Honolulu, Hawaii
                                                   , 2000

                                 RE: H.B. No. 2997
                                     




Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twentieth State Legislature
Regular Session of 2000
State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No.
2997 entitled: 

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

begs leave to report as follows:

     The purpose of this bill is to:

     (1)  Increase the maximum amount of class "A" aquaculture
          farm ownership and improvement loans to $400,000;

     (2)  Increase the maximum amount of class "B" aquaculture
          operating loans to $400,000;

     (3)  Increase the maximum amount of class "C" aquaculture
          cooperative and corporation loans to:

          (A)  $500,000 for facility loans; and 

          (B)  $300,000 for operating loans;

     and

     (4)  Increase the maximum term of class "C" aquaculture
          cooperative and corporation operating loans from three
          to seven years.

     The Department of Agriculture and the Hawaii Aquaculture
Association testified in support of this bill.

 
 
                                 STAND. COM. REP. NO. 625-00
                                 Page 2

 
     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.
2997 and recommends that it pass Third Reading.

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



                                   ______________________________
                                   DWIGHT Y. TAKAMINE, Chair