H.B. 1909 Summary

• Establishes the Maui small business rent subsidization grant program within the Department of Business, Economic Development, and Tourism to assist small businesses displaced by the 2023 Maui wildfires.

• Awards grants to eligible small businesses to help pay rent at alternative locations on Maui, with grant amount equal to the lesser of a percentage of monthly rent (including common area maintenance charges) times twelve or a maximum dollar amount.

• Defines "small business" as a for-profit entity domiciled in Hawaii, independently owned and operated, employing fewer than 15 full-time or part-time employees subject to Hawaii taxation.

• Allows businesses to receive subsequent grants no less than 12 months after receiving a previous grant; program terminates June 30, 2027.

• Appropriates funds from general revenues for fiscal year 2024-2025 and declares the appropriation exceeds the state general fund expenditure ceiling; takes effect July 1, 2024.