HB2662 CD1 CCR156-04

 

CONFERENCE COMMITTEE REP. NO. 156-04

Honolulu, Hawaii

, 2004

RE: H.B. No. 2662

H.D. 1

S.D. 1

C.D. 1

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Second State Legislature

Regular Session of 2004

State of Hawaii

Honorable Robert Bunda

President of the Senate

Twenty-Second State Legislature

Regular Session of 2004

State of Hawaii

Sir:

Your Committee on Conference on the disagreeing vote of the House of Representatives to the amendments proposed by the Senate in H.B. No. 2662, H.D. 1, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO ECONOMIC DEVELOPMENT,"

having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.

The purpose of this measure is to assist new and existing small businesses and those businesses threatened by military base closures and realignments that encounter difficulty when seeking assistance through private or conventional lenders.

More specifically, the bill:

(1) Allows the Department of Business, Economic Development, and Tourism to make loans to businesses located near military installations threatened by closure or downsizing;

(2) Repeals the sunset of the Hawaii Capital Loan Revolving Fund set for July 1, 2004;

(3) Caps the Hawaii Capital Loan Revolving Fund at $1,000,000;

(4) Removes the Hawaii Innovation Development Fund from consideration with respect to the transfer of funds involving the Hawaii Capital Loan Revolving Fund; and

(5) Appropriates $1,000,000 from the Hawaii Capital Loan Revolving Fund for the operating expenses of the Fund.

Your Committee has amended the bill by changing the means used to finance the purposes of the bill. Instead of reinstating and utilizing funds appropriated to the Hawaii Capital Loan Revolving Fund, this bill appropriates $100,000 from the general fund for the purposes of the bill. The bill was also amended by changing the effective date to July 1, 2004.

As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of H.B. No. 2662, H.D. 1, S.D. 1, as amended herein, and recommends that it pass Final Reading in the form attached hereto as H.B. No. 2662, H.D. 1, S.D. 1, C.D. 1.

Respectfully submitted on behalf of the managers:

ON THE PART OF THE SENATE

ON THE PART OF THE HOUSE

____________________________ CAL KAWAMOTO, Co-Chair		____________________________ KEN ITO, Co-Chair
____________________________ CAROL FUKUNAGA, Co-Chair		____________________________ BRIAN SCHATZ, Co-Chair
____________________________ BRIAN T. TANIGUCHI, Co-Chair		____________________________ DWIGHT Y. TAKAMINE, Co-Chair