STAND. COM. REP. NO.  795-16

Honolulu, Hawaii

                , 2016

RE:   H.B. No. 2545

      H.D. 1

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Eighth State Legislature

Regular Session of 2016

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No. 2545, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO BUSINESS DEVELOPMENT,"

begs leave to report as follows:

The purpose of this measure is to stimulate and diversify Hawaii's economy by establishing the High-growth Grant Program to assist qualified businesses through the provision of grants for specific business development purposes.

The Chamber of Commerce Hawaii, Ulupono Initiative, and one individual testified in support of this measure.  The Department of Budget and Finance and the Department of Business, Economic Development, and Tourism provided comments.

     As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2545, H.D. 1, and recommends that it pass Third Reading.

Respectfully submitted on behalf of the members of the Committee on Finance,

____________________________

SYLVIA LUKE, Chair