STAND. COM. REP. NO. 3385

                                   Honolulu, Hawaii
                                                     , 2000

                                   RE:  H.B. No. 2802
                                        S.D. 1




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. 2802 entitled: 

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

begs leave to report as follows:

     The purpose of this bill is to authorize the issuance of
special purpose revenue bonds to assist the Hawaii Food Resource
Center in planning and building a food processing facility.

     Your Committee finds that First Commercial Kitchen is a
successful private enterprise, helping to develop, produce,
market, and distribute over one hundred twenty-five value-added
products for approximately fifty clients.  First Commercial
Kitchen will serve as the foundation for the Hawaii Food Resource
Center, which will be a multi-function facility designed for food
processing.  The Hawaii Food Resource Center will provide a
comprehensive array of food processing services, as well as
temporary storage, distribution, transhipment, product
development, and retail/wholesale showcasing.  

     Your Committee has amended the bill by adding a due
diligence provision to require the Department of Budget and
Finance to process applications for the special purpose revenue
bonds in accordance with specified procedures, and to report to

 
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                                   STAND. COM. REP. NO. 3385
                                   Page 2


the Legislature before the 2001 and 2002 sessions on the issuance
of the bonds.

     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.
2802, as amended herein, and recommends that it pass Third
Reading in the form attached hereto as H.B. No. 2802, S.D. 1.

                                 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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