STAND. COM. REP. NO. 1010

                                 Honolulu, Hawaii
                                                   , 1999

                                 RE: H.B. No. 1020
                                     H.D. 2




Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twentieth State Legislature
Regular Session of 1999
State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No.
1020, H.D. 1, entitled: 

     "A BILL FOR AN ACT RELATING TO THE HAWAII CAPITAL LOAN
     PROGRAM,"

begs leave to report as follows:

     The purpose of this bill is to provide a continued source of
financing to businesses under the Hawaii Capital Loan Program
(Program) by extending the business loan guarantee and the
neighbor island preferential business loan interest rate under
the Program.

     The Department of Business, Economic Development, and
Tourism testified in support of this measure.

     Your Committee has amended this bill by making technical,
nonsubstantive amendments to correct drafting errors, including
setting forth section 210-6, Hawaii Revised Statutes, in its
entirety to prevent its ultimate repeal and reenactment as
required in Act 311, Session Laws of Hawaii (SLH) 1996; Act 104,
SLH 1998; and Act 118, SLH 1998.

     As amended and set forth in this measure, section 210-6
includes all of the amendments to the section made to date since
Act 311, SLH 1996, to confirm the form and substance of the
section as intended by your Committee to survive upon enactment.


 
 
 
                                 STAND. COM. REP. NO. 1010
                                 Page 2

 
     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.
1020, H.D. 1, as amended herein, and recommends that it pass
Third Reading in the form attached hereto as H.B. No. 1020, H.D.
2.

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



                                   ______________________________
                                   DWIGHT Y. TAKAMINE, Chair