STAND

 

STAND. COM. REP. NO.504-02

Honolulu, Hawaii

, 2002

RE: H.B. No. 2453

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-First State Legislature

Regular Session of 2002

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 2453 entitled:

"A BILL FOR AN ACT RELATING TO THE CAPITAL LOAN PROGRAM,"

begs leave to report as follows:

The purpose of this bill is to assist small businesses participating in the Hawaii Capital Loan Program (Program) by providing more timely and market-aligned interest rates. More specifically, this bill changes the frequency for adjusting the Program's loan interest rate from semiannually to the first day of each month.

The Department of Business, Economic Development, and Tourism testified in support of this measure.

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. 2453 and recommends that it pass Third Reading.

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

 

____________________________ DWIGHT Y. TAKAMINE, Chair