Honolulu, Hawaii
S.D. 2
H.D. 1
Speaker, House of Representatives
Thirty-First State Legislature
State of Hawaii
Sir:
Your Committee on Economic Development, to which was referred S.B. No. 2805, S.D. 2, entitled:
"A BILL FOR AN ACT RELATING TO SMALL BUSINESS LOANS,"
begs leave to report as follows:
The purpose of this measure is to:
(1) Establish the Hawaii Start-Up Business Loan Program and Hawaii Start-Up Business Loan Program Revolving Fund; and
(2) Appropriate funds for the Hawaii Start-Up Business Loan Program.
Your Committee finds that the State is in need of an alternative source of financial assistance for new businesses and enterprises to expand and succeed in Hawaii. Many businesses that began during the coronavirus disease 2019 pandemic are having difficulty accessing capital at reasonable rates and terms. This measure would provide immediate working capital and equipment to new businesses and encourage the diversification of economic opportunities for the State's residents.
Your Committee has amended this measure by:
(1) Changing the effective date to October 18, 2050, to encourage further discussion; and
(2) Making technical, nonsubstantive amendments for the purposes of clarity, consistency, and style.
As affirmed by the record of votes of the members of your Committee on Economic Development that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2805, S.D. 2, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 2805, S.D. 2, H.D. 1, and be referred to your Committee on Finance.
Respectfully submitted on behalf of the members of the Committee on Economic Development,
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SEAN QUINLAN, Chair |
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