STAND. COM. REP. NO. 2117

                                   Honolulu, Hawaii
                                                     , 2000

                                   RE:  S.B. No. 3137
                                        




Honorable Norman Mizuguchi
President of the Senate
Twentieth State Legislature
Regular Session of 2000
State of Hawaii

Sir:

     Your Committee on Economic Development, to which was
referred S.B. No. 3137 entitled: 

     "A BILL FOR AN ACT RELATING TO THE ISSUANCE OF SPECIAL
     PURPOSE REVENUE BONDS TO ASSIST PROCESSING ENTERPRISES,"

begs leave to report as follows:

     The purpose of this measure is to authorize the issuance of
special purpose revenue bonds not to exceed $10,000,000 to assist
Science and Technology International, Inc., in planning and
building a processing plant for freeze drying of agricultural
products at a site to be determined.

     Testimony in favor of this measure was submitted by the
Department of Business, Economic Development, and Tourism, the
High Technology Development Corporation, and Science and
Technology International, Inc.

     Your Committee finds that this measure will support both the
diversification of agricultural products produced in Hawaii and
the development of new export markets for the State.  Your
Committee has heard that the high technology applications of the
proposed operations also support current efforts to develop the
many aspects of this industry in Hawaii.

     As affirmed by the record of votes of the members of your
Committee on Economic Development that is attached to this
report, your Committee is in accord with the intent and purpose

 
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                                   STAND. COM. REP. NO. 2117
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of S.B. No. 3137 and recommends that it pass Second Reading and
be referred to the Committee on Ways and Means.

                                   Respectfully submitted on
                                   behalf of the members of the
                                   Committee on Economic
                                   Development,



                                   ______________________________
                                   LORRAINE R. INOUYE, Chair

 
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