STAND. COM. REP. NO. 3635

Honolulu, Hawaii

RE: H.B. No. 1971

H.D. 2

S.D. 1

Honorable Ronald D. Kouchi

President of the Senate

Twenty-Ninth State Legislature

Regular Session of 2018

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred H.B. No. 1971, H.D. 2, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO KUNOA CATTLE COMPANY, LLC,"

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 Kunoa Cattle Company, LLC, for projects relating to an agricultural enterprise.

Your Committee received written comments in support of this measure from the Department of Agriculture; Hawaii Farm Bureau; Ulupono Initiative; Kunoa Cattle Company, LLC; and Oahu County Committee on Legislative Priorities of the Democratic Party of Hawaii.

Your Committee received written comments on this measure from the Department of Budget and Finance.

Your Committee finds that the issuance of special purpose revenue bonds under this measure is for the purpose of assisting an agricultural enterprise and will raise the State's level of agricultural self-sustainability.

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. 1971, H.D. 2, S.D. 1, and recommends that it pass Third Reading.

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

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DONOVAN M. DELA CRUZ, Chair