STAND. COM. REP. NO. 278

Honolulu, Hawaii

RE:    S.B. No. 1255

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. 1255 entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO HONOKAA LAND 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 Honoka‘a Land Company LLC, as an agricultural enterprise.  

     Your Committee received testimony in support of this measure from the Department of Agriculture, Honoka‘a Land Company LLC, and one individual.  Your Committee received comments on this measure from the Department of Budget and Finance.

     Your Committee finds that the proceeds of the sale of special purpose revenue bonds will be used by Honoka‘a Land Company LLC to acquire, develop, and renovate various facilities at the Haina Mill site and convert the Hawi site to organic production.  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.

     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. 1255 and recommends that it pass Second Reading 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