STAND. COM. REP. NO. 933-00

                                 Honolulu, Hawaii
                                                   , 2000

                                 RE: S.B. No. 2342
                                     S.D. 1




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

Sir:

     Your Committee on Agriculture, to which was referred S.B.
No. 2342, S.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 up
to $8,000,000 in special purpose revenue bonds to assist the
Hawaii Taro Company in planning and building a processing plant.

     Your Committee finds that the Hawaii Taro Company started
production and sales of its Maui taro burger in February 1998 to
restaurants on Maui, then in August 1998 to retail stores and
supermarkets on Maui.  In December 1998, the company began
shipping its product to markets, restaurants, hotels and several
institutions on Oahu, including 13 Times supermarkets, 22 Zippy's
restaurants and the Nieman Markus restaurant.  Additionally,
Hawaii Taro Company have secured military contract for
commissaries in the Atlantic and Pacific areas, sales to Marriott
Food Services at the Stan Sheriff Center at University of Hawaii,
Manoa and to Marriott Food Services restaurant at the Honolulu
International airport.  Your Committee further finds that with
this special purpose revenue bond issue, the company will plan
and build a larger automated processing facility and be able to
increase its production and create new jobs in the processing of
taro products and the growing of taro for processing of value
added food products.


 
 
                                 STAND. COM. REP. NO. 933-00
                                 Page 2

 
     Testimony was received from the Hawaii Taro Company in
support of this bill.  The department of budget and finance
commented on this measure.

     As affirmed by the record of votes of the members of your
Committee on Agriculture that is attached to this report, your
Committee is in accord with the intent and purpose of S.B. No.
2342, S.D. 1, and recommends that it pass Second Reading and be
referred to the Committee on Finance.

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



                                   ______________________________
                                   FELIPE P. ABINSAY, JR., Chair