STAND. COM. REP. NO. 707

Honolulu, Hawaii

RE: S.B. No. 1053

S.D. 2

Honorable Ronald D. Kouchi

President of the Senate

Thirty-First State Legislature

Regular Session of 2021

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred S.B. No. 1053, S.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 expand the eligibility of organizations that may receive community-based economic development technical and financial assistance beyond community-based nonprofit organizations to also include for-profit businesses.

Your Committee received written comments in support of this measure from the Department of Business, Economic Development, and Tourism.

Your Committee finds that expanding the eligibility for community-based economic development technical and financial assistance to include for-profit businesses will allow the Department of Business, Economic Development, and Tourism to assist in the success and viability of a larger number of organizations throughout 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 S.B. No. 1053, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 1053, S.D. 2.

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

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DONOVAN M. DELA CRUZ, Chair