STAND. COM. REP. NO.  915

Honolulu, Hawaii

                , 2007

RE:   H.B. No. 692

      H.D. 2

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. 692, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO AGRICULTURE,"

begs leave to report as follows:

     The purpose of this bill is to support agriculture in Hawaii by extending the lapse date from June 30, 2007, to June 30, 2010, for special purpose revenue bonds authorized under Act 131, Session Laws of Hawaii 2004, to assist Aloun Farms in building an agricultural processing plant.

     The Hawaii Farm Bureau Federation and Hawaii Agriculture Research Center testified in support of this bill.

     Your Committee has amended this bill by changing its effective date to June 29, 2007.

     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. 692, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 692, H.D. 2.

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

____________________________

MARCUS R. OSHIRO, Chair