STAND. COM. REP. NO.  1540

Honolulu, Hawaii

                , 2015

RE:   S.B. No. 1060

      S.D. 2

      H.D. 1

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Eighth State Legislature

Regular Session of 2015

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred S.B. No. 1060, S.D. 2, entitled:

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

begs leave to report as follows:

The purpose of this measure is to assist the livestock industry by establishing a low interest Biosecurity Loan program within the Department of Agriculture (Department) for construction, improvements, equipment, and other costs related to a biosecurity project.  This measure also updates the eligibility of the loan classes for loans that the Department insures, guarantees, or participates in, and direct loans from the Department.

The Department of Agriculture, Hawaii Farm Bureau, and Land Use Research Foundation of Hawaii supported this measure.

     Your Committee has amended this measure by:

     (1)  Changing its effective date to July 1, 2030, to promote further discussion; and

     (2)  Making technical, nonsubstantive amendments for clarity, consistency, and style.

     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. 1060, S.D. 2, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 1060, S.D. 2, H.D. 1.

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

____________________________

SYLVIA LUKE, Chair