Relating To An Agricultural Emergency Special Fund.
Impact
The bill, once enacted, will amend Chapter 155 of the Hawaii Revised Statutes by introducing new provisions for the management and allocation of funds. The establishment of this fund is expected to bolster the agricultural sector by providing necessary financial resources during times of crisis, thus enabling farmers to maintain operations and protect their livelihoods. By allowing for the provision of loans, the bill aims at enhancing the resilience of farmers against economic shocks, which can arise from natural disasters or market fluctuations.
Summary
SB2969, relating to the creation of an Agricultural Emergency Special Fund, aims to provide financial support to the agriculture sector during emergencies. This legislation establishes a dedicated fund within the state treasury aimed at facilitating agricultural emergency loans to aid farmers and related entities who may face difficulties due to unforeseen circumstances. The legislation outlines various sources of funding for the special fund, including agricultural charges, interest earnings, and legislative appropriations.
Sentiment
The sentiment surrounding SB2969 among lawmakers appears largely supportive, as evidenced by its passage through the Senate Ways and Means Committee with a unanimous vote. This indicates a recognition of the importance of supporting local agriculture and ensuring its sustainability in the face of emergencies. There is a shared understanding that agriculture not only contributes to the state’s economy but also to food security.
Contention
While there appears to be consensus support for the bill, discussions may arise regarding the specifics of loan eligibility, fund management, and administrative costs. Some stakeholders might express concerns about how quickly funds can be disbursed during emergencies and whether the parameters for loan applications are sufficiently accessible to small farmers. Ensuring that the fund can effectively respond to agricultural emergencies is critical for addressing potential contention points in the implementation of this legislation.