STAND. COM. REP. NO. 242
RE: S.B. No. 336
Honorable Ronald D. Kouchi
President of the Senate
Thirty-First State Legislature
Regular Session of 2021
State of Hawaii
Your Committee on Ways and Means, to which was referred S.B. No. 336 entitled:
"A BILL FOR AN ACT RELATING TO AGRICULTURAL LOANS,"
begs leave to report as follows:
The purpose and intent of this measure is to increase, from $25,000 to $50,000, the maximum amount of each agricultural and aquacultural loan that the Chairperson of the Board of Agriculture may be authorized to unilaterally approve.
Your Committee received written comments in support of this measure from the Department of Agriculture, Ulupono Initiative, and Hawaii Farm Bureau.
Your Committee finds that increasing the maximum amount of state funds that the Chairperson of the Board of Agriculture is authorized to unilaterally approve for each agricultural and aquacultural loan will help reduce approval times for micro-loans and ensure that loan applicants receive needed financial assistance in a timely manner.
Your Committee has amended this measure by changing the effective date to July 1, 2050, to facilitate further discussion on the measure.
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 S.B. No. 336, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 336, S.D. 1.
Respectfully submitted on behalf of the members of the Committee on Ways and Means,
DONOVAN M. DELA CRUZ, Chair