STAND. COM. REP. NO.  1101

Honolulu, Hawaii

                , 2007

RE:   H.B. No. 402

      H.D. 1

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fourth State Legislature

Regular Session of 2007

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No. 402, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE LAND CONSERVATION FUND,"

begs leave to report as follows:

     The purpose of this bill is to broaden the use of the Land Conservation Fund by allowing its use:

     (1)  For the payment of debt service relating to the acquisition of interests or rights in land having value as a resource to the State; and

     (2)  To acquire interest or rights in land having value as an agricultural resource to the State.

     The Department of Agriculture, Department of Land and Natural Resources, Hawaii Agriculture Research Center, Maui Land & Pineapple Company, Inc., and Hoaakalei testified in support of this bill.

     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 H.B. No. 402, H.D. 1, and recommends that it pass Third Reading.

Respectfully submitted on behalf of the members of the Committee on Finance,

____________________________

MARCUS R. OSHIRO, Chair