STAND. COM. REP. NO. 2616

Honolulu, Hawaii

RE: S.B. No. 2357

Honorable Ronald D. Kouchi

President of the Senate

Thirty-First State Legislature

Regular Session of 2022

State of Hawaii

Sir:

Your Committee on Agriculture and Environment, 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 the authorization to issue special purpose revenues bonds to assist MauiGrown, Inc. with the operation and expansion of its farm and mill.

Your Committee received testimony in support of this measure from the Department of Agriculture; MauiGrown Coffee, Inc.; Hawaii Coffee Association; Hawai‘i Farm Bureau; and Momona Farm. Your Committee received comments on this measure from Department of Budget and Finance.

Your Committee finds that Act 116, Session Laws of Hawaii 2017, authorized the issuance of special purpose revenue bonds to assist MauiGrown Coffee, Inc. with the operation and expansion of its coffee farm and mill. However, the authorization for the issuance special purpose revenue bonds to MauiGrown Coffee, Inc. is set to lapse in June of 2022. This measure extends authorization for the issuance of special purpose revenue bonds by five years to 2027.

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. 2357 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,

________________________________

MIKE GABBARD, Chair