STAND. COM. REP. NO. 929

Honolulu, Hawaii

RE: S.B. No. 419

S.D. 1

Honorable Ronald D. Kouchi

President of the Senate

Thirty-Second State Legislature

Regular Session of 2023

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred S.B. No. 419 entitled:

"A BILL FOR AN ACT RELATING TO CARBON SEQUESTRATION,"

begs leave to report as follows:

The purpose and intent of this measure is to appropriate moneys for the Hawaii carbon smart land management assistance pilot program to help keep forests and farmlands intact and sequester additional carbon on the lands.

Your Committee received written comments in support of this measure from the Department of Land and Natural Resources, Hawaii Climate Change Mitigation and Adaptation Commission, Pacific Agricultural Land Management Systems, The Nature Conservancy Hawaii, Kauai Climate Action Coalition, Hawaii Farm Bureau, Hawaii Environmental Change Agents Carbon Sequestration Task Force, Capture the Carbon, Hawaii Forest Industry Association, Hawaii Farmers Union United, Food+ Policy Internship, Hawaii Cattlemen's Council, and ten individuals.

Your Committee received written comments in opposition to this measure from two individuals.

Your Committee finds that the State has committed to achieving carbon neutrality by 2045. To meet this commitment, the State must make investments to reduce emissions of carbon dioxide and methane and mitigate the effects of past emissions. Your Committee further finds that this measure will allow small farmers, ranches, foresters, and landowners and lessees to be compensated for measures taken to help the State achieve carbon neutrality.

Your Committee has amended this measure by:

(1) Changing the amount appropriated to an unspecified amount; and

(2) 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. 419, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 419, S.D. 1.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

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DONOVAN M. DELA CRUZ, Chair