STAND. COM. REP. NO. 350

Honolulu, Hawaii

RE:    S.B. No. 91

       S.D. 1

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fifth State Legislature

Regular Session of 2009

State of Hawaii

Madam:

     Your Committee on Economic Development and Technology, to which was referred S.B. No. 91 entitled:

"A BILL FOR AN ACT RELATING TO COMMUNITY-BASED ECONOMIC DEVELOPMENT,"

begs leave to report as follows:

     The purpose of this measure is to authorize the Hawaii community-based economic development revolving fund to receive funding from any source and reduces the maximum balance amount and interest rates for loans received under chapter 210D, Hawaii Revised Statutes.

     This measure also amends the definition of "community of interest" in section 210D-2, Hawaii Revised Statutes, to allow for broader representation of persons who share a common economic interest who do not necessarily live in the same geographic region.

     Testimony in support of this measure was submitted by the Department of Business, Economic Development, and Tourism, the Office of Hawaiian Affairs, the Hawaii Alliance for Community Based Economic Development, the Hawaii Alliance of Nonprofit Organizations, the Malu‘ohai Residents Association, and one individual.  Written testimony presented to the Committee may be reviewed on the Legislature's website.

     Your Committee finds that it is fiscally responsible to authorize the Hawaii community-based economic development revolving fund to receive monies from sources other than the general fund.  Your Committee also finds that this is the right time to revise chapter 210D, Hawaii Revised Statutes, in order for community‑based organizations to keep pace with our changing economy in order to meet the challenges of the most distressed communities.

     Your Committee has amended this measure by making a technical, nonsubstantive amendment for the purpose of clarity.

     As affirmed by the record of votes of the members of your Committee on Economic Development and Technology that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 91, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 91, S.D. 1, and be referred to the Committee on Ways and Means.

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

____________________________

CAROL FUKUNAGA, Chair