Honorable Robert Bunda

President of the Senate

Twenty-Second State Legislature

Regular Session of 2004

State of Hawaii

Sir:

Your Committee on Water, Land, and Agriculture, to which was referred H.B. No. 2322, H.D. 1, entitled:

begs leave to report as follows:

The purpose of this measure is to authorize the issuance of special purpose revenue bonds for Aloun Farms to build an agricultural processing plant.

Testimony in support of the measure was submitted by the Board of Agriculture and the University of Hawaii.

Your Committee finds that access to an agricultural processing facility is becoming increasingly necessary to meet changing industry standards in agricultural marketing and to address potential food safety of this operation. This measure will provide the funding needed to build the processing plant.

Accordingly, your Committee has amended this measure by changing its effective date to July 1, 2004.

As affirmed by the record of votes of the members of your Committee on Water, Land, and Agriculture that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2322, H.D. 1, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 2322, H.D. 1, S.D. 1, and be referred to the Committee on Ways and Means.