Honorable Robert Bunda

President of the Senate

Twenty-First State Legislature

Regular Session of 2002

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred H.B. No. 2385 entitled:

begs leave to report as follows:

The purpose of this measure is to authorize the issuance of special purpose revenue bonds in the amount of $3,000,000 to assist Wines of Kauai, LLC.

Your Committee finds that diversified agriculture is a boon to Hawaii's economy, and equipping a winery on Kauai is a wise step in that direction. Your Committee finds that this project to plan, design, construct, and equip a winery qualifies for issuance of special purpose revenue bonds, as assisting a processing enterprise under part IV of chapter 39A, Hawaii Revised Statutes. In particular, Kauai is well suited to an enterprise like this, as it will help boost its agricultural economy after the closure of Kekaha Sugar Company. With new jobs and a new industry, Kauai can recover from the hits it has taken since the hurricanes of the 1980s and 1990s.

As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2385, and recommends that it pass Third Reading.