STAND. COM. REP. NO. 1578

Honolulu, Hawaii

RE:    H.B. No. 402

       H.D. 1

       S.D. 2

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fourth State Legislature

Regular Session of 2007

State of Hawaii

Madam:

     Your Committee on Ways and Means, to which was referred H.B. No. 402, H.D. 1, S.D. 1, entitled:

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

begs leave to report as follows:

     The purpose of this measure is to broaden the use of the land conservation fund to include payments of debt service relating to the acquisition of interests or rights in land having value as a resource to the State.

     The measure also broadens the definition of "conservation easement" to include easements that preserve and protect land for agricultural use.

     Your Committee received comments in support of this measure from the Department of Agriculture.  The Department of Land and Natural Resources submitted comments on this measure.

     Your Committee finds that this measure will provide the Department of Land and Natural Resources with greater flexibility in administering the land conservation fund to provide proper stewardship of state lands.

     Your Committee has amended the measure by adopting the recommendation of the Department of Land and Natural Resources to restrict the proposed amendment regarding the payment of any debt service to debt service "on state financial instruments".

     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. 402, 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. 402, H.D. 1, S.D. 2.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

____________________________

ROSALYN H. BAKER, Chair