STAND. COM. REP. NO. 1434

                                   Honolulu, Hawaii
                                                     , 1999

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




Honorable Norman Mizuguchi
President of the Senate
Twentieth State Legislature
Regular Session of 1999
State of Hawaii

Sir:

     Your Committee on Ways and Means, to which was referred H.B.
No. 1020, H.D. 2, S.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 ensure the continued
availability of the Business Loan Guarantee Program.

     The bill also provides an extension of the neighbor island
preferential business loan interest rate.

     Your Committee finds that loans for small businesses to
finance construction, the purchase of equipment, and to acquire
working capital is necessary to stimulate our economy and to
provide needed government assistance in these trying fiscal
times.

     Your Committee, however, finds that further discussion on
this measure in conference is necessary in light of on-going
budgetary issues that directly affect the purposes of this bill.
Therefore, your Committee has amended the bill by changing the
effective date to June 29, 2010 to accommodate that discussion.


 
a                                                     HB1020 SD2
 
 
 
                                   STAND. COM. REP. NO. 1434
                                   Page 2


     As affirmed by the record of votes of the members of your
Committee on Ways and Means that is attached to this report, your
Committee is in accord with the intent and purpose of H.B.
No. 1020, H.D. 2, S.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, S.D. 2.

                                 Respectfully submitted on behalf
                                 of the members of the Committee
                                 on Ways and Means,



                                 ________________________________
                                 CAROL FUKUNAGA, Co-Chair



                                 ________________________________
                                 ANDREW LEVIN, Co-Chair

 
a                                                     HB1020 SD2