Honorable Robert Bunda

President of the Senate

Twenty-Third State Legislature

Regular Session of 2006

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred H.B. No. 2925, H.D. 1, S.D. 1, entitled:

begs leave to report as follows:

The purpose of this measure is to appropriate funds for the Hawaii Community-Based Economic Development Technical and Financial Assistance Program (Program) to assist the planning and implementation of community-based economic development projects.

Specifically, this bill appropriates $500,000 to the Department of Business, Economic Development, and Tourism to fund the Program for the purpose of making low-interest grants to qualifying community-based entrepreneurs.

Upon further consideration, your Committee has amended this bill 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. 2925, H.D. 1, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 2925, H.D. 1, S.D. 2.