Appropriates moneys to establish a civil service exempt position to implement the foreign investment recruitment program to attract investment from Pacific Rim countries in the community-based economic development program of the department of business, economic development, and tourism. (HB430 HD1)

A BILL FOR AN ACT

SECTION 1. The legislature recognizes that there are foreign investors who desire to invest in Hawaii. The community-based economic development program could benefit immensely by providing supporting goods and services to new foreign investors in Hawaii.

The purpose of this Act is to establish a program within the community-based economic development program of the department of business, economic development, and tourism that focuses on recruiting investment from Australia, China, Indonesia, Japan, Malaysia, New Zealand, Singapore, South Korea, Taiwan, Thailand, Vietnam, and other Pacific Rim countries.

SECTION 2. There is appropriated out of the general revenues of the State of Hawaii the sum of $1 or so much thereof as may be necessary for fiscal year 2001-2002 to cover the start-up costs to implement the foreign investment recruitment program, including the creation of a civil service exempt position within the community-based economic development program.

The sum appropriated shall be expended by the department of business, economic development, and tourism for the purposes of this Act.

SECTION 3. This Act shall take effect on July 1, 2001.