STAND. COM. REP. NO. 3862

Honolulu, Hawaii

RE: H.B. No. 2062

H.D. 1

S.D. 1

Honorable Ronald D. Kouchi

President of the Senate

Thirty-First State Legislature

Regular Session of 2022

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred H.B. No. 2062, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO AGRICULTURAL LOANS,"

begs leave to report as follows:

The purpose and intent of this measure is to provide emergency relief and rehabilitation to eligible farmers throughout the State.

More specifically, this measure:

(1) Establishes the agricultural emergency loan revolving fund to provide class D emergency loans made pursuant to section 155-9(e), Hawaii Revised Statutes;

(2) Allows for payments received on account of principal from loans made by the agricultural emergency loan revolving fund to be credited to the revolving fund; and

(3) Appropriates moneys into and out of the agricultural emergency loan revolving fund.

Your Committee received written comments in support of this measure from the Department of Agriculture, Hawaii Cattlemen's Council, Hawaii Farm Bureau, Ulupono Initiative, and two individuals.

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

Your Committee finds that because environmental and economic disasters and emergencies are occurring with greater frequency, the demand for emergency relief during times of hardship caused by unforeseen crises has increased. Accordingly, your Committee believes that the establishment of an agricultural emergency loan revolving fund to serve as a dedicated source of funding for agricultural emergency loans will help to support farmers throughout the State during and following disasters and emergencies.

Your Committee has amended this measure by changing the effective date to July 1, 2051, to facilitate further discussion on the measure.

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. 2062, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 2062, H.D. 1, S.D. 1.

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

________________________________

DONOVAN M. DELA CRUZ, Chair