STAND. COM. REP. NO. 2799

Honolulu, Hawaii

RE: S.B. No. 2808

S.D. 1

Honorable Ronald D. Kouchi

President of the Senate

Thirty-First State Legislature

Regular Session of 2022

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred S.B. No. 2808 entitled:

"A BILL FOR AN ACT RELATING TO THE HAWAII TECHNOLOGY DEVELOPMENT CORPORATION,"

begs leave to report as follows:

The purpose and intent of this measure is to appropriate moneys for the State Small Business Credit Initiative program to provide financial support to Hawaii's small businesses.

Your Committee received written comments in support of this measure from the Hawaii Technology Development Corporation; Department of Business, Economic Development, and Tourism; Hawaii Green Infrastructure Authority; Hawaii Food Industry Association; Chamber of Commerce Hawaii; and Maui Chamber of Commerce.

Your Committee received written comments on this measure from the Department of Budget and Finance.

Your Committee finds that the moneys appropriated by this measure will help expand access to capital, in the form of loans and investments, for small businesses statewide.

Your Committee has amended this measure by:

(1) Changing the appropriation amount to an unspecified sum;

(2) Changing the effective date to July 1, 2050, to facilitate further discussion on the measure; and

(3) Making technical nonsubstantive changes for purposes of clarity, consistency, and style.

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. 2808, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2808, S.D. 1.

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

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DONOVAN M. DELA CRUZ, Chair