Bill > SB1003

This bill authorizes the issuance of general obligation bonds to the Agribusiness Development Corporation (ADC) to purchase a specific parcel of land (tax map key: (3) 9-6-5:63) in the Kau region of Hawaii Island for agricultural development. The legislation is rooted in recognizing Kau's agricultural heritage and potential, highlighting the area's transition from large-scale sugar plantations to diverse agricultural enterprises like fruit and vegetable farming, coffee cultivation, macadamia nut production, and livestock grazing. The bill aims to support local farmers by enabling the ADC to acquire land, provide strategic resources, enhance infrastructure, and promote sustainable agriculture while preserving local land ownership. The director of finance is authorized to issue bonds for the land purchase from the Ellis Jacob Hester Trust during fiscal year 2025-2026, with the appropriated funds to be spent by the ADC. The bill includes provisions ensuring that unencumbered funds will lapse by June 30, 2028, and specifies that the act will take effect on July 1, 2050. Importantly, the legislation emphasizes the need for community engagement to ensure that the land acquisition and agricultural development align with local farmers' needs and regional values.

Budget and Finance, Business and Industry

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=1003&year=2025