STAND. COM. REP. NO.1196-02
Honolulu, Hawaii
, 2002
RE: S.B. No. 2242
S.D. 1
H.D. 1
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 S.B. No. 2242, S.D. 1, H.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO PUBLIC LAND LEASES,"
begs leave to report as follows:
The purpose of this bill is to allow the Board of Land and Natural Resources (BLNR) to extend the term of an agricultural or industrial lease.
Specifically, this bill:
(1) Allows the lessee to amortize the cost of substantial improvements to the property without institutional financing;
(2) Authorizes BLNR to extend the term of an agricultural or industrial lease due to significant economic hardship directly caused by a state disaster or eminent domain-related proceedings;
(3) Authorizes BLNR to extend or modify a lease affected by eminent domain-related proceedings, provided that BLNR determines that the lessee will not be adequately compensated pursuant to the lease provisions; and
(4) Requires that the length of any lease extension resulting from economic hardship shall not exceed five years.
The Hawaii Farm Bureau Federation and a member of the Maui County Council testified in support of this measure. BLNR commented on 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 S.B. No. 2242, S.D. 1, H.D. 1, and recommends that it pass Third Reading.
Respectfully submitted on behalf of the members of the Committee on Finance,
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____________________________ DWIGHT Y. TAKAMINE, Chair |
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