Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Second State Legislature

Regular Session of 2004

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 2662 entitled:

begs leave to report as follows:

The purpose of this bill is to help military communities develop infrastructure to minimize the possibility of or the adverse effects of the closure or reduction in capacity of military installations, by establishing a Military Community Infrastructure Development Revolving Loan Fund.

Two concerned individuals testified in support of this bill. The Department of Business, Economic Development, and Tourism supported the intent of this bill and suggested amendments.

Your Committee has amended this bill by redefining a "person" as a for-profit business organized as a sole proprietorship, corporation, or partnership, and a nonprofit organization or association, whether or not incorporated.

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. 2662, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 2662, H.D. 1.