STAND. COM. REP. NO.530

Honolulu, Hawaii

, 2001

RE: H.B. No. 925

H.D. 1

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-First State Legislature

Regular Session of 2001

State of Hawaii

Sir:

Your Committee on Agriculture, to which was referred H.B. No. 925 entitled:

"A BILL FOR AN ACT RELATING TO LOANS,"

begs leave to report as follows:

The purpose of this bill is to:

(1) Appropriate funds from the Agricultural Loan Revolving Fund and the Aquaculture Loan Revolving Fund to provide financial assistance to agriculture and aquaculture enterprises on Kauai; and

(2) Authorize loans up to $5,000,000 from the Aquaculture Loan Revolving Fund or Agriculture Loan Revolving Fund to provide financial assistance to agriculture and aquaculture enterprises on Kauai.

The Kauai Economic Development Board (Board), Kauai Chamber of Commerce, Kauai County Farm Bureau, and CEATECH USA submitted testimony in support of this bill. The Department of Agriculture supported the intent of this bill.

Your Committee finds that with the demise of the sugar industry on Kauai, there is a need for financial assistance to stimulate development and economic growth in agriculture and aquaculture enterprises.

Your Committee is concerned that this bill may set a dangerous precedent by giving the Board too much discretion in administering the loans and the possibility of depleting all of the funds in one loan instead of many.

Your Committee has amended this bill by:

(1) Removing the appropriations to the Aquaculture Loan Revolving Fund and the Agriculture Loan Revolving Fund; and

(2) Making technical, nonsubstantive amendments for purposes of clarity and style.

As affirmed by the record of votes of the members of your Committee on Agriculture that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 925, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 925, H.D. 1, and be referred to the Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Agriculture,

____________________________

FELIPE P. ABINSAY, Chair