HI SB765

Adds definition of "qualified community development entity" to Hawaii Revised Statutes Chapter 210D, with same meaning as section 45D(c)(1) of the Internal Revenue Code of 1986, to enable use of federal new markets tax credits

Authorizes the Department of Business, Economic Development, and Tourism to provide loans to capitalize qualified community development entities that make financing available to borrowers

Expands loan purposes under the Hawaii community-based economic development program to include loans to entities that capitalize qualified community development entities

Removes the $250,000 cap on loan amounts and the ten-year maximum loan term; allows the director to set specific amounts and terms

Takes effect July 1, 2050