STAND. COM. REP. NO.  547

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 Committees on Water, Land, Ocean Resources & Hawaiian Affairs and Agriculture, to which was referred H.B. No. 402 entitled:

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

beg leave to report as follows:

     The purpose of this bill is to:

     (1)  Broaden use of the Land Conservation Fund (Fund) by

          specifying that the Fund can be used 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)  Allow use of the Fund to acquire interest or rights in

          land having value as an agricultural resource to the

          State by amending the definition of conservation

          easement to include the preservation and protection of

          land for agricultural use.

     The Department of Agriculture and the Department of Land and Natural Resources testified in support of this bill.

     Your Committees have amended this bill by:

     (1)  Changing the effective date to July 1, 2050, to

          encourage further discussion; and

     (2)  Making technical, nonsubstantive amendments for style,

          clarity, and consistency.

     As affirmed by the records of votes of the members of your Committees on Water, Land, Ocean Resources & Hawaiian Affairs and Agriculture that are attached to this report, your Committees are in accord with the intent and purpose of H.B. No. 402, as amended herein, and recommend that it pass Second Reading in the form attached hereto as H.B. No. 402, H.D. 1, and be referred to the Committee on Finance.

Respectfully submitted on behalf of the members of the Committees on Water, Land, Ocean Resources & Hawaiian Affairs and Agriculture,

____________________________ CLIFT TSUJI, Chair

____________________________ KEN ITO, Chair