HB 1175 Summary

• Establishes the micro enterprise assistance program on Hawaiian home lands revolving fund in the state treasury to provide grants and loans to eligible recipients.

• Fund sources include legislative appropriations, federal grants and subsidies, private investments, and voluntary contributions.

• Provides assistance to qualified native Hawaiians as defined by the Hawaiian Homes Commission Act of 1920, native Hawaiian-controlled homestead associations, and homestead associations' designated tax-exempt community development corporations.

• Appropriates unspecified sums from general revenues for fiscal years 2021-2022 and 2022-2023 to establish the fund, with matching appropriations from the fund for loans and grants.

• Department of Business, Economic Development, and Tourism administers the program; effective date is July 1, 2021.