Hawaii SB703 allocates $20 million annually for agricultural loans with interest rate caps and a line of credit program.
Hawaii SB703 provides funding for the agricultural loan program, allocating $20 million for each of fiscal years 2025-2026 and 2026-2027. The funds will support loans with a four percent interest rate cap, a line of credit program with a prevailing interest rate, and loans with a three percent interest rate cap for new farmers growing import replacement crops and farm-to-state programs. The agricultural loan division of the Department of Agriculture will manage the expenditures. The act will take effect on July 1, 2025.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.