Report Title:

Community-Based Econ. Dev.; Appropriation

 

Description:

Appropriates funds for the Community-Based Economic Development Program of the Department of Business, Economic Development, and Tourism. (SD2)

THE SENATE

S.B. NO.

2540

TWENTY-FIRST LEGISLATURE, 2002

S.D. 2

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

relating to community-based economic development.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. The legislature finds that the business community, nonprofit organizations, and other entrepreneurs require a functional, service-oriented agency that is readily accessible, able to provide business counseling and financial backing, and general support to them in order to foster real community-based economic development in the various products and services demonstrating and embracing Hawaii's diversified economy. Toward this end, the community-based economic development program of the department of business, economic development, and tourism was established for this very purpose. In order to provide the necessary financial assistance to community-based entrepreneurs, the community-based economic development program has been authorized by the legislature to provide low interest grants to qualifying applicants.

The purpose of this Act is to appropriate funds for the community-based economic development program.

SECTION 2. There is appropriated out of the general revenues of the State of Hawaii the sum of $       , or so much thereof as may be necessary for fiscal year 2002-2003, for the purpose of providing grants under the community-based economic development program of the department of business, economic development and tourism.

SECTION 3. The sum appropriated shall be expended by the department of business, economic development and tourism for the purposes of this Act.

SECTION 4. This Act shall take effect on July 1, 2002.