STAND. COM. REP. NO.  127-08

Honolulu, Hawaii

                , 2008

RE:   H.B. No. 2228

      H.D. 1

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fourth State Legislature

Regular Session of 2008

State of Hawaii

Sir:

     Your Committee on Economic Development & Business Concerns, to which was referred H.B. No. 2228 entitled:

"A BILL FOR AN ACT MAKING AN APPROPRIATION FOR COMMUNITY-BASED ECONOMIC DEVELOPMENT,"

begs leave to report as follows:

     The purpose of this bill is to help build the economies of our island communities by appropriating $500,000 to be used by the Hawaii Community-Based Economic Development Technica1 and Financial Assistance Program to be distributed as loans and grants to cooperative associations and nonprofit organizations for community based economic development activities.

     Hawaii Alliance for Community-Based Economic Development, God's Country Waimanalo, Empower Oahu, Empower Waimanalo, Kona Pacific Farmers Cooperative, Hawaii Co-op of Organic Farmers, and several concerned individuals submitted testimony in support of this measure.  The Department of Business, Economic Development, and Tourism (DBEDT) supported the intent of this bill.

     Your Committee has amended this bill by:

(1)  Inserting language recommended by DBEDT, appropriating funds out of the Hawaii Community-Based Economic Development Revolving Fund;

(2)  Changing the effective date to July 1, 2034, to encourage further discussion; and

(3)  Making technical, nonsubstantive amendments for clarity, consistency, and style.

     As affirmed by the record of votes of the members of your Committee on Economic Development & Business Concerns that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2228, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 2228, H.D. 1, and be referred to the Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Economic Development & Business Concerns,

____________________________

KYLE T. YAMASHITA, Chair