CONFERENCE COMMITTEE REP. NO. 21

Honolulu, Hawaii

, 2025

RE: H.B. No. 984

H.D. 2

S.D. 1

C.D. 1

Honorable Nadine K. Nakamura

Speaker, House of Representatives

Thirty-Third State Legislature

Regular Session of 2025

State of Hawaii

Honorable Ronald D. Kouchi

President of the Senate

Thirty-Third State Legislature

Regular Session of 2025

State of Hawaii

Madam and Sir:

Your Committee on Conference on the disagreeing vote of the House of Representatives to the amendments proposed by the Senate in H.B. No. 984, H.D. 2, S.D. 1, entitled:

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

having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.

The purpose of this measure is to:

(1) Update the Agricultural Loan Program by lowering and fixing interest rates, increasing and standardizing loan limits, and reducing the required number of credit denials;

(2) Establish a program for a secured line of credit and create a new loan initiative to encourage larger scale agriculture for import replacement and crops grown for farm-to-state programs;

(3) Include food hubs as an eligible entity for Class E loans; and

(4) Appropriate funds into and out of the Agricultural Loan Revolving Fund to meet the anticipated increase in loan demand and to accommodate the increased loan limits.

Your Committee on Conference has amended this measure by:

(1) Inserting loan limits for Class A, B, C, E, F, G, and K loans;

(2) Inserting a line of credit limit for Class J loans;

(3) Deleting language that would have appropriated funds into and out of the Agricultural Loan Revolving Fund to meet the anticipated increase in loan demand and to accommodate the increased loan limits;

(4) Changing the effective date to July 1, 2025; and

(5) Making technical, nonsubstantive amendments for the purposes of clarity, consistency, and style.

As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of H.B. No. 984, H.D. 2, S.D. 1, as amended herein, and recommends that it pass Final Reading in the form attached hereto as H.B. No. 984, H.D. 2, S.D. 1, C.D. 1.

Respectfully submitted on behalf of the managers:

ON THE PART OF THE SENATE

ON THE PART OF THE HOUSE

____________________________ MIKE GABBARD Chair	____________________________ KIRSTIN KAHALOA Co-Chair
____________________________ HENRY J.C. AQUINO Co-Chair	____________________________ MATTHIAS KUSCH Co-Chair