STAND. COM. REP. NO. 2865

Honolulu, Hawaii

RE: S.B. No. 2357

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 S.B. No. 2357 entitled:

"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST MAUIGROWN COFFEE, INC,"

begs leave to report as follows:

The purpose and intent of this measure is to extend an authorization to issue special purpose revenues bonds to assist MauiGrown, Inc. with its expanded operation of a coffee farm and mill.

Your Committee received written comments in support of this measure from the Department of Agriculture; Hawaii Coffee Association; MauiGrown Coffee, Inc; Hawaii Farm Bureau; and two individuals.

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

Your Committee finds that Act 116, Session Laws of Hawaii 2017, initially authorized the issuance of special purpose revenue bonds to assist MauiGrown Coffee, Inc., a Hawaii corporation, with the expanded operation of its coffee farm and mill in Puukolii, Maui. Your Committee notes that this authorization is scheduled to lapse on June 30, 2022. Your Committee believes that with the threat of the coffee berry borer and coffee leaf rust plaguing the coffee industry, extending the bond issuance authorization will help MauiGrown Coffee, Inc., incorporate best management practices to protect its valuable crop.

Your Committee has amended this measure by:

(1) Changing the effective date to June 29, 2050, to facilitate further discussion on the measure; and

(2) Making technical nonsubstantive changes for 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. 2357, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2357, S.D. 1.

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

________________________________

DONOVAN M. DELA CRUZ, Chair