Informing the Legislature that on July 1, 2024, the Governor signed the following bill into law: SB2974 SD2 HD1 CD1 (ACT 142).

This bill establishes a Business Revitalization Task Force within the Department of Business, Economic Development, and Tourism to study ways to improve Hawaii's economic competitiveness. The task force will include state agency directors, a university business dean, county economic development officials, and representatives from various industries such as construction, agriculture, and technology. Its primary goal is to identify methods to reduce regulatory and tax burdens that may be hindering business growth and self-employment in the state. The group is tasked with meeting regularly to analyze these issues and propose solutions without receiving compensation for their service.