HB 2583: DBEDT; MICRO-LENDING; CREDIT ENHANCEMENT; LOAN LOSS RESERVE; SMALL BUSINESSES; SPECIAL FUND; REPORTS; APPROPRIATION

Session Year: 2025-2026
House: House
Latest Version Date: 2026-02-17

Current Status:

In Progress

(2026-03-02: The committee on FIN recommend that the measure be PASSED, UNAMENDED. The votes were as follows: 16 Ayes: Representative(s) Todd, Takenouchi, Hartsfield, Hussey, Keohokapu-Lee Loy, Kitagawa, Kusch, Lee, M., Miyake, Morikawa, Perruso, Templo, Yamashita, Alcos, Gedeon, Reyes Oda; Ayes with reservations: none; Noes: none; and Excused: none.)

Introduced

First Committee Review

First Chamber

Second Committee Review

Second Chamber

Final Decking

Enacted

Version:

Establishes the Hawaii Micro-Lending Credit Enhancement Program within the Department of Business, Economic Development, and Tourism to expand micro-lending capacity by providing state‑funded loan loss reserves or other credit enhancement that absorbs first losses on qualified micro-loans made by participating lenders to Hawaii small businesses. Allows borrower fees and state matching contributions to capitalize lender-held loan loss reserve accounts. Establishes the Hawaii Micro-Lending Credit Enhancement Special Fund. Requires reports to the Legislature. Appropriates funds. Effective 7/1/3000. (HD1)

Discussed in Hearing