STAND. COM. REP. NO. 2965

Honolulu, Hawaii

RE:    H.B. No. 2228

       H.D. 2

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fourth State Legislature

Regular Session of 2008

State of Hawaii

Madam:

     Your Committee on Economic Development and Taxation, to which was referred H.B. No. 2228, H.D. 2, entitled:

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

begs leave to report as follows:

     The purpose of this measure is to appropriate funds for the Hawaii Community-Based Economic Development (CBED) Technical and Financial Assistance Program to provide loans and grants to qualifying community-based economic development organizations statewide.

     Testimony in support of this measure was received from the Department of Business, Economic Development, and Tourism; the Office of Hawaiian Affairs; the Hawai‘i Alliance for Community-Based Economic Development; the Hawaii Co-op of Organic Farmers; Empower Oahu; Kona Pacific Farmers Cooperative; and one individual.

     Your Committee finds that this measure will provide the CBED program with greater flexibility, with the intent of improving the delivery of services, particularly loans.

     As affirmed by the record of votes of the members of your Committee on Economic Development and Taxation that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2228, H.D. 2, and recommends that it pass Second Reading and be referred to the Committee on Ways and Means.

Respectfully submitted on behalf of the members of the Committee on Economic Development and Taxation,

____________________________

CAROL FUKUNAGA, Chair