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HI HB2369

Bill

Official Source

Status

Passed

6/24/2024

Primary Sponsor

Scott Saiki

Click for details

Origin

House of Representatives

2024 Regular Session

AI Summary

  • Amends Section 210D-10 of Hawaii Revised Statutes regarding loan terms for the Hawaii Community-Based Economic Development Technical and Financial Assistance Program
  • Increases the maximum interest rate on loans from 6 percent to 10 percent per year, while maintaining the minimum rate of 3 percent
  • Retains existing loan terms: maximum outstanding balance of $250,000 per applicant, maximum loan term of 10 years, and director discretion to defer repayment commencement up to 2 years
  • Takes effect upon approval

Legislative Description

Relating To The Hawaii Community-based Economic Development Technical And Financial Assistance Program.

Increase

Last Action

Act 068, 06/21/2024 (Gov. Msg. No. 1169).

6/24/2024

Committee Referrals

Ways and Means3/22/2024
Energy, Economic Development, and Tourism3/7/2024
Finance2/12/2024
Economic Development1/26/2024

Full Bill Text

No bill text available