HI HB873

Establishes the Hawaii capital loan revolving fund to receive repayment of loans and interest payments, with the department authorized to use portions of fund moneys for administration costs.

Permits the department to transfer moneys between the Hawaii capital loan revolving fund, Hawaii technology loan revolving fund, state disaster revolving loan fund, Hawaii strategic development corporation revolving fund, and state private investment fund.

Limits annual transfers to the state disaster revolving loan fund or Hawaii capital loan revolving fund to $1,000,000 each, with an exception allowing up to $1,000,000 in transfers between disaster and capital loan funds when a state disaster is proclaimed.

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

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