Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-First State Legislature

Regular Session of 2002

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 2549 entitled:

begs leave to report as follows:

The purpose of this bill is to allow lessees of public lands to extend their leases to the extent necessary to amortize the cost of major improvements to the demised premises that are paid for by the lessee without institutional financing.

The Department of Land and Natural Resources, Hawaii Agriculture Research Center, and the Hawaii Farm Bureau Federation supported this 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. 2549 and recommends that it pass Third Reading.