STAND. COM. REP. NO. 2776

Honolulu, Hawaii

RE:    S.B. No. 2467

       S.D. 2

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fourth State Legislature

Regular Session of 2008

State of Hawaii

Madam:

     Your Committee on Ways and Means, to which was referred S.B. No. 2467, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO LOANS TO ASSIST AGRICULTURAL AND AQUACULTURAL INDUSTRIES,"

begs leave to report as follows:

     The purpose of this measure is to establish a new class of loans that the Department of Agriculture may offer to farmers and aquaculturists.

     Specifically, this measure creates a class of (class "H") loans relating to sustainable projects, which are intended to improve operations viability.

     Your Committee received testimony in support of this measure from the Department of Agriculture, the Hawaii Aquaculture Association, and the Hawaiian Electric Company.

     Your Committee finds that establishing this new class of loans will assist the Department in encouraging the growth, development, and well-being of the agriculture and aquaculture industries in the State.

     Your Committee has amended this measure by making conforming amendments and technical, nonsubstantive amendments for the purposes of clarity and style.

     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 S.B. No. 2467, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2467, S.D. 2.

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

____________________________

ROSALYN H. BAKER, Chair