STAND. COM. REP. NO. 2830

Honolulu, Hawaii

RE: S.B. No. 2434

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 S.B. No. 2434 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 promote the continued development of the Kunoa Cattle Company, LLC, by authorizing the issuance of special purpose revenue bonds to assist the company in the construction of a livestock farm, development of distribution assets and agritourism services, and expansion of the company's renewable energy assets.

Your Committee received written comments in support of this measure from the Board of Agriculture, the Hawaii Farm Bureau Federation, Ulupono Initiative, and the Democratic Party of Hawaii's Oahu County Committee on Legislative Priorities.

Your Committee finds that issuing special purpose revenue bonds to assist the Kunoa Cattle Company, LLC, would encourage food sustainability by increasing the volume of livestock available for local consumption and by improving associated slaughter and processing facility infrastructure.

Your Committee has amended this measure by making technical nonsubstantive changes for the purposes of clarity, consistency, and style.

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 S.B. No. 2434, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2434, S.D. 1.

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

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DONOVAN M. DELA CRUZ, Chair