Hawaii House Bill HB2645

Hawaii 2024 Regular Session

• Introduced: 1/24/24
• Refer: 1/26/24

Caption

Relating To Small Business.

Impact

The proposed legislation includes a specific appropriation from the general revenues of the State of Hawaii to fund programs that assist businesses impacted by the wildfires. This financial support is essential, as it is designed to ensure that the economic interests of Maui's community are prioritized in the wake of natural disasters. Without such measures, small businesses may struggle to recover and maintain operations, which could lead to long-term economic decline in the region.

Summary

House Bill 2645, introduced in the 32nd Legislature of Hawaii, aims to support small businesses affected by the 2023 Maui wildfires through the establishment of the Maui Business Bridge Grants Program. The bill declares that the state's general fund expenditure ceiling will be exceeded for the fiscal year 2024-2025 due to the appropriations necessary for this program. By addressing the needs of Maui-based businesses, the bill seeks to facilitate economic recovery in the aftermath of the disaster, highlighting the importance of the local economy's resilience.

Contention

One notable aspect of HB 2645 is the acknowledgment that the general fund expenditure ceiling will be exceeded. This could raise concerns among some stakeholders about fiscal responsibility and the implications of increased spending during a time of economic uncertainty. Critics may argue that while the intent to support affected businesses is commendable, it must be balanced with the overall financial health of the state. Therefore, ongoing discussions may focus on the sustainability of such appropriations and their long-term effects on the state's budget.