STAND. COM. REP. NO.  286

Honolulu, Hawaii

                , 2013

RE:   H.B. No. 1388

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Seventh State Legislature

Regular Session of 2013

State of Hawaii

Sir:

     Your Committee on Agriculture, to which was referred H.B. No. 1388 entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST A PROCESSING ENTERPRISE,"

begs leave to report as follows:

The purpose of this measure is to assist aquacultural operations on Kauai by authorizing the issuance of special purpose revenue bonds to assist Sunrise Capital, Inc., in protecting its shrimp hatchery facility and its salt water well, located on the island of Kauai, and relocate them further inland to avoid seaside erosion.

Sunrise Capital, Inc., testified in support of this measure.  The Department of Budget and Finance and Department of Agriculture submitted comments.

     As affirmed by the record of votes of the members of your Committee on Agriculture that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1388 and recommends that it pass Second Reading and be referred to the Committee on Finance.

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

____________________________

JESSICA WOOLEY, Chair