STAND. COM. REP. NO. 1373-00

                                 Honolulu, Hawaii
                                                   , 2000

                                 RE: S.B. No. 2411
                                     S.D. 1
                                     H.D. 1




Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twentieth State Legislature
Regular Session of 2000
State of Hawaii

Sir:

     Your Committee on Finance, to which was referred S.B. No.
2411, S.D. 1, entitled: 

     "A BILL FOR AN ACT RELATING TO SPECIAL PURPOSE REVENUE BONDS
     FOR PROCESSING ENTERPRISES,"

begs leave to report as follows:

     The purpose of this bill is to develop additional markets
for Hawaii-grown coffee by authorizing the issuance of special
purpose revenue bonds to assist Kauai Coffee Company, Inc., in
planning and building a processing plant for freeze-dried coffee;
provided that the Department of Budget and Finance (B&F):

     (1)  Evaluate Kauai Coffee Company, Inc.'s application for
          financing the processing plant; and

     (2)  Report its findings and recommendations to the
          Legislature prior to the convening of the Regular
          Session of 2001.

     Kauai Coffee Company testified in support of the measure.
The Department of Agriculture testified in support of the intent
of the measure.

     Your Committee has amended this bill by deleting the
requirements that B&F evaluate and report its findings.  Other
technical, nonsubstantive amendments were made for clarity and
style.

 
 
                                 STAND. COM. REP. NO. 1373-00
                                 Page 2

 
     As affirmed by the record of votes of the members of your
Committee on Finance that is attached to this report, your
Committee is in accord with the intent and purpose of S.B. No.
2411, S.D. 1, as amended herein, and recommends that it pass
Third Reading in the form attached hereto as S.B. No. 2411, S.D.
1, H.D. 1.

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



                                   ______________________________
                                   DWIGHT Y. TAKAMINE, Chair