HI HB771

Establishes the Hawaii capital loan revolving fund under Chapter 210 of the Hawaii Revised Statutes to receive repayments and interest payments from loans.

Allows the Department of Business, Economic Development, and Tourism to use a portion of fund moneys for programs associated with administering the fund and its mandated purpose.

Authorizes the department or director to transfer moneys from the state disaster revolving loan fund (established by section 209-34) to the Hawaii capital loan revolving fund for disbursement.

Requires the department to report any fund transfers to the legislature within ten days of the transfer.

Appropriates funds from general revenues for fiscal years 2015-2016 and 2016-2017 to establish the revolving fund and create one permanent full-time program manager position (1.0 FTE) to administer the fund; takes effect July 1, 2015.