HOUSE OF REPRESENTATIVES

H.B. NO.

1402

THIRTIETH LEGISLATURE, 2019

H.D. 1

STATE OF HAWAII

 

 

 

 

 

 

A BILL FOR AN ACT

 

 

RELATING TO THE COMMUNITY-BASED ECONOMIC DEVELOPMENT PROGRAM.

 

 

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

 


SECTION 1. Section 210D-4, Hawaii Revised Statutes, is amended to read as follows:

"210D-4 Hawaii community-based economic development revolving fund; established. (a) There is established a revolving fund to be known as the Hawaii community-based economic development revolving fund from which moneys shall be loaned or granted by the department under this chapter. [All]

(b) Except as provided by subsection (c), all moneys appropriated to the fund by the legislature, received as repayments of loans, payments of interest or fees, and all other moneys received by the fund from any other source shall be deposited into the revolving fund and used for the purposes of this chapter. The department may deposit moneys it receives from the repayments of loans and payments of interest or fees from the Hawaii capital loan program established by chapter 210, the Hawaii large fishing vessel purchase, construction, renovation, maintenance, and repair loan program established by part II of chapter 189, and the Hawaii small fishing vessel loan program established by part IV of chapter 189, into the Hawaii community-based economic development revolving fund to be used for the purposes of this chapter. The department may use all appropriations and other moneys in the revolving fund not appropriated for a designated purpose to make grants or loans.

(c) A separate subaccount of the Hawaii community-based economic development revolving fund, to be known as the micro enterprise assistance program on Hawaiian home lands subaccount, shall be established. All moneys in the subaccount shall:

(1) Be used exclusively for the purposes of providing grants or loans for qualified native Hawaiians as defined by the Hawaiian Homes Commission Act of 1920 and pursuant to article XII of the state constitution through implementation of the micro enterprise assistance program. Entities qualified to receive funding pursuant to this subsection are:

(A) Native Hawaiian-controlled homestead associations with members who are qualified native Hawaiians as defined by the Hawaiian Homes Commission Act of 1920 and pursuant to article XII of the state constitution;

(B) A Hawaiian homestead association's designated tax exempt community development corporation; or

(C) Native Hawaiian community organizations with a demonstrated ability and history of making and administering loans and providing support to qualified native Hawaiians as defined by the Hawaiian Homes Commission Act of 1920; and

(2) Consist of the following:

(A) Revenues, income, and receipts derived from the Hawaiian home lands development program;

(B) Appropriations from the legislature;

(C) Federal grants and subsidies to the State;

(D) Private investments; or

(E) Voluntary contributions."

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 2019-2020 and the same sum or so much thereof as may be necessary for fiscal year 2020-2021 for deposit into the micro enterprise assistance program on Hawaiian home lands subaccount of the Hawaii community-based economic development revolving fund.

SECTION 3. There is appropriated out of the micro enterprise assistance program on Hawaiian home lands subaccount of the Hawaii community-based economic development revolving fund the sum of $         or so much thereof as may be necessary for fiscal year 2019-2020 and the same sum or so much thereof as may be necessary for fiscal year 2020-2021 for loans or grants issued pursuant to chapter 210D, Hawaii Revised Statutes, to the micro enterprise assistance program on Hawaiian home lands pursuant to section 1 of this Act.

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

SECTION 4. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 5. This Act shall take effect on July 1, 2050.



 

Report Title:

DBEDT; Micro Enterprise Assistance Program on Hawaiian Home Lands; Revolving Fund; Appropriation

 

Description:

Establishes a subaccount within the Hawaii Community-Based Economic Development Revolving Fund for grants or loans for the Micro Enterprise Assistance Program on Hawaiian Home Lands to qualified native Hawaiians and qualified entities. Appropriates funds. (HB1402 HD1)

 

 

 

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