Honorable Robert Bunda

President of the Senate

Twenty-Second State Legislature

Regular Session of 2004

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred H.B. No. 2662, H.D. 1, entitled:

begs leave to report as follows:

The purpose of this measure is to assist persons threatened by military base closures or reductions in capacity.

This measure would establish a military community infrastructure development revolving loan fund to assist persons in military communities to develop infrastructure to minimize the possibility of or mitigate the adverse effects on a military community of the closure or reduction in capacity of a military installation.

Your Committee finds that the purpose of this measure, to assist persons threatened by military base closures with a loan program, may be met by utilizing the Hawaii capital loan revolving fund that is scheduled to be repealed on July 1, 2004.

Accordingly, your Committee has amended this measure by replacing it with the provisions of S.B. No. 2867. This latter measure provides for the continuation of the Hawaii capital loan revolving fund that was to be repealed pursuant to Act 178, Session Laws of Hawaii 2003. Your Committee has further amended this measure by:

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