Hawaii · HB2583

Relating to Economic Development.

FinalHow bills become law

Signed — now law

The governor signed it. This is now an official law.

Stage 6 of 6Signature

10
Sponsors: 14
Votes: Jul 7
Last action

The governor signed it. Nothing left to watch.

Official text

Take action on this

In plain words

AI summary

Written by AI from the bill text. Check the official text before relying on it.

Description

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.

Subjects

ReportAppropriationsEconomic DevelopmentRulesDbedtReports

Progress

IntroducedJan 28, 2026
Sent to committeeFeb 2, 2026
Passed the first chamberFeb 18, 2026
Sent to committeeFeb 18, 2026
PassedMar 5, 2026
Sent to committeeMar 10, 2026
Sent to committeeMar 24, 2026
Passed both chambersMay 7, 2026
Passed both chambersMay 7, 2026
Became lawJul 7, 2026

From official state and federal legislative records. Informational only, not legal advice.