STAND. COM. REP. NO. 3644

Honolulu, Hawaii

RE: H.B. No. 2333

H.D. 1

S.D. 1

Honorable Ronald D. Kouchi

President of the Senate

Twenty-Ninth State Legislature

Regular Session of 2018

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred H.B. No. 2333, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE HAWAII COMMUNITY-BASED ECONOMIC DEVELOPMENT TECHNICAL AND FINANCIAL ASSISTANCE PROGRAM,"

begs leave to report as follows:

The purpose and intent of this measure is to authorize the Department of Business, Economic Development, and Tourism to deposit moneys into the Hawaii community-based economic development revolving fund that the Department receives from the repayments of loans and payments of interest or fees from certain loan programs.

Your Committee received written comments in support of this measure from the Department of Business, Economic Development, and Tourism; Hawaii Alliance for Community-Based Economic Development; Hawaii Farm Bureau Federation; the Oahu County Committee on Legislative Priorities of the Democratic Party of Hawaii; and Waianae Economic Development Council.

Your Committee finds that authorizing the Department of Business, Economic Development, and Tourism to deposit recoveries from outstanding loans from certain loan programs that are inactive into the Hawaii community-based economic development revolving fund will allow the Department to make loans and grants available to small businesses in the State.

Your Committee has amended this measure by changing the effective date to July 1, 2050, to facilitate further discussion on the measure.

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. 2333, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 2333, H.D. 1, S.D. 1.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

________________________________

DONOVAN M. DELA CRUZ, Chair