STAND. COM. REP. NO.  1681-12

Honolulu, Hawaii

                , 2012

RE:   S.B. No. 2695

      S.D. 2

      H.D. 2

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Sixth State Legislature

Regular Session of 2012

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred S.B. No. 2695, S.D. 2, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO LIVESTOCK FEED,"

begs leave to report as follows:

The purpose of this measure is to require the Department of Agriculture to collaborate with other institutions to implement a livestock feed feasibility pilot project, and to authorize the Director of Finance to issue $1,000,000 in general obligation bonds for the pilot project; provided that the funds from the proceeds are matched dollar for dollar by an appropriation from the Agricultural Development and Food Security Special Fund.

The Department of Agriculture, Hawaii Farm Bureau Federation, and several individuals testified in support of this measure.  The Department of Budget and Finance provided comments on this measure.

     Your Committee has amended this measure by:

     (1)  Changing the appropriation to an unspecified amount;

     (2)  Making general revenues the funding source for the appropriation; and

     (3)  Changing the effective date of this measure to July 1, 2030, to facilitate further discussion.

     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 S.B. No. 2695, S.D. 2, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2695, S.D. 2, H.D. 2.

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

____________________________

MARCUS R. OSHIRO, Chair