STAND. COM. REP. NO. 488
Honolulu, Hawaii
RE: S.B. No. 1288
S.D. 1
Honorable Ronald D. Kouchi
President of the Senate
Twenty-Ninth State Legislature
Regular Session of 2017
State of Hawaii
Sir:
Your Committee on Agriculture and Environment, to which was referred S.B. No. 1288 entitled:
"A BILL FOR AN ACT RELATING TO SPECIAL PURPOSE REVENUE BONDS FOR HPC FOODS, LTD,"
begs leave to report as follows:
The purpose and intent of this measure is to authorize the issuance of special purpose revenue bonds to assist HPC Foods, Ltd., as an agricultural enterprise.
Your Committee received testimony in support of this measure from the Department of Agriculture; Hawai‘i Farm Bureau; HPC Foods, Ltd.; and one individual. Your Committee received comments on this measure from the Department of the Attorney General and Department of Budget and Finance.
Your Committee finds that the proceeds of the sale of special purpose revenue bonds will be used by HPC Foods, Ltd., for multi-project capital improvement programs. HPC Foods, Ltd., is one of Hawaii's largest produce processors and distributors, manufacturing fresh cut fruits and vegetables and their well-known mung bean, clover, soy, and radish sprouts. Your Committee further finds that the issuance of these special purpose revenue bonds is in the public interest and will benefit the public health, safety, and general welfare.
Your Committee has amended this measure by inserting an effective date of July 1, 2050, to encourage further discussion.
As affirmed by the record of votes of the members of your Committee on Agriculture and Environment that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1288, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 1288, S.D. 1, and be referred to your Committee on Ways and Means.
Respectfully submitted on behalf of the members of the Committee on Agriculture and Environment,
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________________________________ MIKE GABBARD, Chair |
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