Informing the Legislature that on June 21, 2024, the Governor signed the following bill into law: HB2369 HD1 SD1 CD1 (ACT 068).

This message from the Governor of Hawaii informs the Legislature that HB2369, known as Act 068, was signed into law on June 21, 2024. The bill amends state statutes to establish specific terms for loans provided through the Hawaii Community-Based Economic Development Technical and Financial Assistance Program. Under the new rules, loans can be issued for up to $250,000 with a maximum repayment period of ten years and an interest rate between 3% and 10%. Additionally, the director of business, economic development, and tourism has the authority to defer loan repayment for up to two years.