STAND. COM. REP. NO. 3394

                                   Honolulu, Hawaii
                                                     , 2000

                                   RE:  H.B. No. 2997
                                        




Honorable Norman Mizuguchi
President of the Senate
Twentieth State Legislature
Regular Session of 2000
State of Hawaii

Sir:

     Your Committee on Ways and Means, to which was referred H.B.
No. 2997 entitled: 

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

begs leave to report as follows:

     The purpose of this bill is to increase the loan amount
ceilings for aquaculture loans offered by the Department of
Agriculture out of the aquaculture loan revolving fund.

     Specifically, this bill increases the loan amounts as
follows:

     (1)  Class A farm ownership and improvement loans from
          $100,000 to $400,000;

     (2)  Class B aquaculture operations loans from $75,000 to
          $400,000;

     (3)  Class C aquaculture cooperative and corporation
          facility loans from $250,000 to $500,000; and

     (4)  Class C aquaculture cooperative and corporation
          operating loans from $150,000 to $300,000.


 
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                                   STAND. COM. REP. NO. 3394
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     Furthermore, this bill increases the loan term for class C
aquaculture cooperative and corporation operating loans from
three to seven years.

     Your Committee finds that this measure will assist the
development of the aquaculture industry in Hawaii.

     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.
2997 and recommends that it pass Third Reading.

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



                                 ________________________________
                                 CAROL FUKUNAGA, Co-Chair



                                 ________________________________
                                 ANDREW LEVIN, Co-Chair

 
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