Honorable Robert Bunda

President of the Senate

Twenty-Third State Legislature

Regular Session of 2006

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred S.B. No. 2235 entitled:

begs leave to report as follows:

The purpose of this measure is to raise the ceiling of agriculture loan amounts from $25,000 to $75,000.

Your Committee finds that the current approval limit of $25,000 has not been increased since authority to approve those loans was granted in 1982. The agricultural and aquacultural industries as well as the banking industries have undergone tremendous changes since that time. The increase in the approval authority will allow the loan program to improve services to applicants and better meet the needs of the agricultural and aquacultural industries.

Your Committee has amended this measure by increasing the loan ceiling from $25,000 to $50,000. Your Committee has also made technical nonsubstantive amendments for the purposes of clarity and style.

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 S.B. No. 2235, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2235, S.D. 1.