SB 2428 Summary

• Establishes the Hawaii Agricultural Investment Program within the Agribusiness Development Corporation to provide matching grants supporting local agricultural producers.

• Grant funds may support acquiring/improving real property, irrigation systems, transportation networks, equipment, technology, workforce development, agricultural research, product marketing, and food safety training.

• Requires grantees to comply with anti-discrimination laws, use funds exclusively for program purposes, indemnify the State, maintain records for corporation review, and comply with all applicable federal, state, and county laws.

• Mandates the corporation submit annual reports to the legislature including expenditure accounting, targeted markets, persons served, measurable objectives, and number of socially disadvantaged farmers and ranchers assisted.

• Appropriates unspecified funds for program operations and 2.0 full-time equivalent positions to manage grant procurement, contracts, and accounting; takes effect July 1, 2050.