STAND. COM. REP. NO. 1029-26

Honolulu, Hawaii

, 2026

RE: H.B. No. 2216

H.D. 2

Honorable Nadine K. Nakamura

Speaker, House of Representatives

Thirty-Third State Legislature

Regular Session of 2026

State of Hawaii

Madame:

Your Committee on Finance, to which was referred H.B. No. 2216, H.D. 1, entitled:

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

begs leave to report as follows:

The purpose of this measure is to:

(1) Authorize the Department of Agriculture and Biosecurity to package and sell a portion of its agricultural loan portfolio to permitted third parties; and

(2) Appropriate funds out of the Agricultural Loan Revolving Fund to increase its expenditure ceiling.

Your Committee received testimony in support of this measure from the Department of Agriculture and Biosecurity; Department of Research and Development for the County of Hawaiʻi; Ulupono Initiative; Hawaiʻi Farm Bureau; Agriculture Stewardship Hawaiʻi; and three individuals.

Your Committee has amended this measure by changing the appropriation to an unspecified amount.

Your Committee further encourages the Department of Agriculture and Biosecurity to work out the financial details regarding the State's Agricultural Loan Program and agricultural loan portfolio before any subsequent hearing to continue to support the State's agricultural producers and maximize the impact of this measure.

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 H.B. No. 2216, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 2216, H.D. 2.

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

____________________________

CHRIS TODD, Chair