STAND. COM. REP. NO. 1341

Honolulu, Hawaii

RE:    H.B. No. 747

       H.D. 1

       S.D. 1

Honorable Donna Mercado Kim

President of the Senate

Twenty-Seventh State Legislature

Regular Session of 2013

State of Hawaii

Madam:

     Your Committee on Ways and Means, to which was referred H.B. No. 747, H.D. 1, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO AGRICULTURE,"

begs leave to report as follows:

     The purpose and intent of this measure is to:

     (1)  Increase the Agribusiness Development Corporation's limit on investments in qualified securities of any one enterprise from $500,000 to an unspecified amount; and

     (2)  Appropriate funds to the Agribusiness Development Corporation to purchase agricultural land.

     Your Committee received written comments in support of this measure from a private individual.

     Your Committee received written comments in opposition to this measure from thirteen private individuals.

     Your Committee finds that this measure will allow the Agribusiness Development Corporation greater investment flexibility by increasing the maximum allowable investment in any one enterprise.  Your Committee also finds that this measure will enable the Agribusiness Development Corporation to purchase agricultural lands to promote the development and maintenance of agriculture in the State.

     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. 747, H.D. 1, S.D. 1, and recommends that it pass Third Reading.

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

____________________________

DAVID Y. IGE, Chair