Honorable Robert Bunda

President of the Senate

Twenty-Third State Legislature

Regular Session of 2005

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred H.B. No. 330, H.D. 1, S.D. 1, entitled:

begs leave to report as follows:

The purpose of this measure is to enhance the fiscal accountability and agricultural land preservation powers of the Agribusiness Development Corporation.

Specifically, the measure:

Your Committee finds that it is in the State's interest to conserve and protect agricultural lands. By ensuring that the State's prime agricultural lands are used for agriculture, the State can encourage continued growth of diversified agriculture and support rural communities, while also reducing the State's dependence on the tourism industry, improving Hawaii's food supply, and preserving open spaces for residents and visitors alike. This measure provides an effort to protect agricultural lands by requiring the Agribusiness Development Corporation to provide lease management services and to obtain agricultural lands in the Galbraith Estate lands in Waialua in order to sustain and preserve viable agricultural enterprises.

Your Committee amended this measure by changing the revenue bond amount to be issued from an unspecified amount to a nominal amount to facilitate further discussion on this matter. In addition, technical nonsubstantive amendments were made for clarity.

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. 330, H.D. 1, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 330, H.D. 1, S.D. 2.