HI HB873

Establishes the Hawaii capital loan revolving fund to receive loan repayments and interest payments, with the department authorized to use a portion of moneys for fund administration.

Authorizes the department to transfer up to $1,000,000 per calendar year between the Hawaii capital loan revolving fund and the state disaster revolving loan fund, Hawaii technology loan revolving fund, Hawaii strategic development corporation revolving fund, or state private investment fund.

Increases the transfer limit to $1,000,000 when the governor proclaims a state disaster pursuant to section 209-2.

Appropriates $2,000,000 from general revenues for fiscal year 2011-2012 to be deposited into the Hawaii capital loan revolving fund and $2,000,000 from the fund for expenditure by the department of business, economic development, and tourism.

Requires the department to report any fund transfers to the legislature within ten days of the transfer and takes effect on July 1, 2011.