STAND. COM. REP. NO.  558-08

 

Honolulu, Hawaii

                , 2008

 

RE:   H.B. No. 2261

      H.D. 1

 

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fourth State Legislature

Regular Session of 2008

State of Hawaii

 

Sir:

 

     Your Committees on Agriculture and Energy & Environmental Protection, to which was referred H.B. No. 2261 entitled:

 

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

 

beg leave to report as follows:

 

     The purpose of this bill is to establish the Hawaii Farm Renewable Sustainable Energy Loan Program to provide financial assistance to farm producers for on-farm renewable sustainable energy projects.

 

     The Hawaii Farm Bureau Federation, Maui County Farm Bureau, Hawaii Aquaculture Association, Hawaii Crop Improvement Association, Hawaiian Electric Company (and its subsidiaries, Maui Electric Company and Hawaii Electric Light Company), Hamakua Springs Country Farm, and a concerned individual supported this bill.  The Department of Agriculture supported the intent of this measure and suggested amendments.

 

     Upon further consideration and in light of testimony submitted on this matter, your Committees have amended this measure by deleting its contents and inserting provisions that:

 

     (1)  Incorporate loans for farm sustainable projects into the existing agricultural loan program under Chapter 155, Hawaii Revised Statutes (HRS), and loans for aquacultural sustainable projects into the existing aquacultural loan program under Chapter 219, HRS;

 

     (2)  Establish specific permitted uses and eligibility requirements for the loans for farm sustainable projects and aquaculture sustainable projects; and

 

     (3)  Restrict the loan amounts to $1,500,000 or 85 percent of the project cost, whichever is lesser, and limit the term of the loans to 40 years.

 

     As affirmed by the records of votes of the members of your Committees on Agriculture and Energy & Environmental Protection that are attached to this report, your Committees are in accord with the intent and purpose of H.B. No. 2261, as amended herein, and recommend that it pass Second Reading in the form attached hereto as H.B. No. 2261, H.D. 1, and be referred to the Committee on Finance.

 

Respectfully submitted on behalf of the members of the Committees on Agriculture and Energy & Environmental Protection,

 

 

____________________________

HERMINA MORITA, Chair

 

____________________________

CLIFT TSUJI, Chair