STAND. COM. REP. NO. 893

Honolulu, Hawaii

, 2005

RE: S.B. No. 1792

S.D. 1

 

 

Honorable Robert Bunda

President of the Senate

Twenty-Third State Legislature

Regular Session of 2005

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred S.B. No. 1792 entitled:

"A BILL FOR AN ACT MAKING AN APPROPRIATION FOR INTERNATIONAL BUSINESS AND TECHNOLOGY INCUBATOR PROGRAM,"

begs leave to report as follows:

The purpose of this measure is to appropriate general funds to establish an international business and technology incubator program to be administered by the High Technology Development Corporation (Corporation).

Specifically, the program will enable the Corporation to assist foreign technology companies primarily from the Asian countries of China and Japan in setting up a business in Hawaii.

Your Committee finds that the Corporation is qualified to assist the Asian companies in understanding legal, financial, and human resource practices. Furthermore, companies in China and Japan are accustomed to working almost exclusively with and among government entities. Your Committee finds that attracting foreign investment in the State will increase the State's tax base and broaden employment prospects for Hawaii residents.

Your Committee has amended this measure by changing the appropriation figures to unspecified amounts for the purpose of continuing discussion on the matter.

As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1792, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 1792, S.D. 1.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

____________________________

BRIAN T. TANIGUCHI, Chair