Chamber of Commerce Hawaiʻi praises lawmakers for passage of 2024 Legislative Priorities

The State Legislature closed on May 3 passing several of bills supported by the Chamber of Commerce Hawaiʻi to tackle cost of living challenges, support growth in the technology sector, boost entrepreneurship, increase access to childcare and add affordable housing for our workforce.

In January, the Chamber of Commerce Hawaiʻi launched a proactive legislative agenda to focus on priorities identified in its 2030 Blueprint for Hawaiʻi Initiative.

“These bills are part of the Chamber’s 2030 Blueprint for Hawaiʻi Initiative, a long-term action plan for business to lead and shape Hawaiʻi’s economic future as a competitive place to do business. Through interviews, focus groups, surveys, and extensive research it was made clear that these were the business community’s top priorities. We are grateful and pleased that these bills passed through the legislative session, and we respectfully urge the governor to support them,” said Sherry Menor-McNamara, President, and CEO of the Chamber of Commerce Hawaiʻi.

Chamber priority bills that passed final votes in both Chambers last week include:

• SB2497 – Expands tax credits for small businesses that conduct high technology research activities, incentivizing development in this sector.
• HB1800 – Allocates $6 million in funding for the Hawaiʻi Technology Development Corporation to maintain its grant programs that support our local small businesses, entrepreneurship, manufacturing, and tech companies; another $6 million for geothermal energy exploration; and funding for an additional staff position to support aerospace development programming.
• SB3087 – Authorizes early learning programs to be established on public school campuses and other available public buildings, such as state properties and other public lands, to open new childcare facilities throughout the state.
• SB3202 – Promotes higher density, compact development, and efficient use of the state’s limited lands that are suitable for residential development. This will provide more available land to house the local workforce and reduce pressures to develop agricultural and conservation lands.
• SB2974 – Establishes a business revitalization task force made up of a diverse group of government and business stakeholders.

The Chamber’s key successful legislative outcome includes Senate Bill 2947, Relating to Economic Development, which establishes a business revitalization task force in July 2024, comprised of key state and business community leaders who will identify regulatory and tax burdens and improve Hawaiʻi’s economic competitiveness and business climate.

Sen. Lynn DeCoite of Molokaʻi, Chair of the Senate Energy, Economic Development and Tourism Committee introduced the bill in partnership with the Chamber and said, “This bill will ensure that our local small businesses have a platform to express their views and concerns directly with government officials. They can help the state tackle problems like high taxes, long lines, paperwork delays, lack of technology processes and layers of bureaucracy. We look forward to launching the Task Force in collaboration with the private sector to support growth in our business community.”

Daniel Holt, Chair of the House Economic Development Committee, introduced a companion bill in the House with the Chamber and said, “The Task Force offers a critical opportunity to bring the private sector and government leaders together to identify regulatory barriers that are stifling Hawaiʻi’s economic growth. The only way we can solve these challenges is by bringing stakeholders together to ask the hard questions.”