STAND. COM. REP. NO. 607

Honolulu, Hawaii

, 2023

RE: H.B. No. 971

H.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirty-Second State Legislature

Regular Session of 2023

State of Hawaii

Sir:

Your Committee on Agriculture & Food Systems, to which was referred H.B. No. 971 entitled:

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

begs leave to report as follows:

The purpose of this measure is to establish and appropriate funds into and out of the Agricultural Emergency Loan Revolving Fund.

Your Committee received testimony in support of this measure from the Department of Agriculture, Hawai‘i Farm Bureau, and Ulupono Initiative.

Your Committee finds that emergency loans to agricultural enterprises are currently funded from the Agricultural Loan Revolving Fund. However, the Agricultural Loan Revolving Fund is also used to fund all of the Agricultural Loan Program's other loans, resulting in competition for limited funds. This measure will facilitate rapid recovery of farms and ranches from natural and economic disasters by establishing a permanent, dedicated source of funding for the administration of emergency loans.

Your Committee has amended this measure by:

(1) Changing the effective date to June 30, 3000, to encourage further discussion; and

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

As affirmed by the record of votes of the members of your Committee on Agriculture & Food Systems that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 971, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 971, H.D. 1, and be referred to your Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Agriculture & Food Systems,

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CEDRIC ASUEGA GATES, Chair