STAND. COM. REP. NO. 661
Honolulu, Hawaii
RE: S.B. No. 1456
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. 1456 entitled:
"A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO HONOKAA LAND COMPANY, LLC,"
begs leave to report as follows:
The purpose and intent of this measure is to support agricultural activities in the State.
More specifically, the measure authorizes the issuance of special purpose revenue bonds of up to $100,000,000 to assist Honoka`a Land Company, LLC, in acquiring, developing, and renovating various agricultural facilities, including:
(1) Rebuilding structures for a soil and earth products business based at the Haina Mill;
(2) Purchasing an agriculture consulting and research and development firm and farm to serve as a research and development facility;
(3) Acquiring or building organic dairies;
(4) Promoting green and renewable energy initiatives; and
(5) Developing affiliated agricultural employee housing.
Your Committee received written comments in support of this measure from Honoka`a Land Company, LLC.
Your Committee received written comments on this measure from the Department of Budget and Finance and Department of the Attorney General.
Your Committee finds that the agricultural initiatives proposed in this measure will enhance and support agricultural activities in the State and therefore merit the issuance of special purpose revenue bonds to assist Honoka`a Land Company, LLC, an agricultural enterprise, in implementing these initiatives.
Your Committee has amended this measure by:
(2) Making technical nonsubstantive amendments for purposes of clarity, consistency, and style.
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. 1456, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 1456, 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 |
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