STAND. COM. REP. 3009

Honolulu, Hawaii

, 2004

RE: H.B. No. 2662

H.D. 1

 

 

Honorable Robert Bunda

President of the Senate

Twenty-Second State Legislature

Regular Session of 2004

State of Hawaii

Sir:

Your Committees on Transportation, Military Affairs, and Government Operations and Economic Development, to which was referred H.B. No. 2662, H.D. 1, entitled:

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

beg leave to report as follows:

The purpose of this measure is to establish the military community infrastructure development revolving loan fund, to provide assistance to persons in military communities to develop infrastructure to minimize the possibility of, or to mitigate the adverse effects of, the closure or reduction in capacity of a military installation on the military community.

Testimony in support of this measure was received from the Department of Business, Economic Development and Tourism and one individual.

Your Committee finds that this measure represents the State's efforts to assist businesses in the military community that are negatively affected by troop deployments.

The loans under this law would go to persons in a military community before the military installation is closed. Moneys to be deposited into the fund come from legislative appropriations, gifts and grants, and repayment of principal and interest on loans.

As affirmed by the records of votes of the members of your Committees on Transportation, Military Affairs, and Government Operations and Economic Development that are attached to this report, your Committees are in accord with the intent and purpose of H.B. No. 2662, H.D. 1, and recommend that it pass Second Reading and be referred to the Committee on Ways and Means.

Respectfully submitted on behalf of the members of the Committees on Transportation, Military Affairs, and Government Operations and Economic Development,

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CAROL FUKUNAGA, Chair

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CAL KAWAMOTO, Chair