STAND. COM. REP. NO. 272

                                   Honolulu, Hawaii
                                                     , 1999

                                   RE:  S.B. No. 1072
                                        




Honorable Norman Mizuguchi
President of the Senate
Twentieth State Legislature
Regular Session of 1999
State of Hawaii

Sir:

     Your Committee on Economic Development, to which was
referred S.B. No. 1072 entitled: 

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

begs leave to report as follows:
     
     The purpose of this measure is to amend Act 311, Session
Laws of Hawaii (SLH) 1996, and Act 104, SLH 1998, to delete the
repeal dates for the Department of Business, Economic
Development, and Tourism's loan guarantee capability and the
neighbor island business loan interest rate.

     Your Committee received testimony in support of this measure
from the Department of Business, Economic Development, and
Tourism.

     Your Committee finds that this measure will eliminate the
sunset of both these programs, which are valuable to people of
this State.

     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. 1072 and recommends that it pass Second Reading and
be referred to the Committee on Ways and Means.


 
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                                   STAND. COM. REP. NO. 272
                                   Page 2


                                   Respectfully submitted on
                                   behalf of the members of the
                                   Committee on Economic
                                   Development,



                                   ______________________________
                                   LORRAINE R. INOUYE, Chair

 
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