Honorable Robert Bunda

President of the Senate

Twenty-Third State Legislature

Regular Session of 2006

State of Hawaii

Sir:

Your Committee on Judiciary and Hawaiian Affairs, to which was referred S.B. No. 2479 entitled:

begs leave to report as follows:

The purpose of this measure is to propose an amendment to Article VII, Section 12 of the Hawaii State Constitution to authorize special purpose bonds to assist agricultural business on important agricultural lands.

Testimony in support of this measure was submitted by the Department of Agriculture, the Department of Budget and Finance, the University of Hawaii, the Hawaii Agriculture Research Center, the Land Use Research Foundation of Hawaii, the Pineapple Growers Association of Hawaii, Meadow Gold Dairies, the Hawaii Farm Bureau, and the Hawaii Crop Improvement Association.

Your Committee finds that encouraging agricultural development will provide positive environmental, social, and economic benefits to the State. This measure makes an amendment to Article VII, Section 12 of the Hawaii State Constitution to issue special purpose revenue bonds and use the proceeds from the bonds to assist agricultural businesses operating on important agricultural lands.