STAND. COM. REP. NO. 572-00

                                 Honolulu, Hawaii
                                                   , 2000

                                 RE: H.B. No. 2964
                                     H.D. 1




Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twentieth State Legislature
Regular Session of 2000
State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No.
2964, H.D. 1, entitled: 

     "A BILL FOR AN ACT RELATING TO COMMUNITY-BASED ECONOMIC
     DEVELOPMENT,"

begs leave to report as follows:

     The purpose of this bill is to appropriate funds to
encourage and support community-based physical improvements that
are the result of comprehensive regional community-based economic
development planning initiatives.

     The funds would be used for the planning, design, and
construction of physical improvements selected as part of an
existing or emerging comprehensive, regional, multi-sector
community-based strategic action planning process coordinated by
the Hawaii Alliance for Community-Based Economic Development and
implemented by the appropriate regional community-based economic
development nonprofit organization lead entity.

     The Hawaii Alliance for Community-Based Economic
Development, Empower Oahu, and several individuals testified in
support of this measure.  Comments were submitted by the
Department of Business, Economic Development, and Tourism.

     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.
2964, H.D. 1, and recommends that it pass Third Reading.

 
 
                                 STAND. COM. REP. NO. 572-00
                                 Page 2

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



                                   ______________________________
                                   DWIGHT Y. TAKAMINE, Chair