STAND. COM. REP. NO.555

Honolulu, Hawaii

, 2003

RE: S.B. No. 519

S.D. 1

 

 

Honorable Robert Bunda

President of the Senate

Twenty-Second State Legislature

Regular Session of 2003

State of Hawaii

Sir:

Your Committee on Economic Development, to which was referred S.B. No. 519 entitled:

"A BILL FOR AN ACT MAKING A MATCHING FUNDS APPROPRIATION TO SUPPORT A PUBLIC-PRIVATE PARTNERSHIP TO MARKET AND PROMOTE INCENTIVES PROVIDED BY ACT 221, SESSION LAWS OF HAWAII 2001, FOR INVESTORS TO INVEST IN HIGH TECHNOLOGY IN HAWAII,"

begs leave to report as follows:

The purpose of this measure is to appropriate matching funds to create a public-private partnership to market and promote high technology business investment incentives, as provided by Act 221, Session Laws of Hawaii 2001.

Testimony in support of this measure was submitted by the Hawaii Technology Trade Association (HTTA). Testimony in support of the intent of the measure was submitted by the Department of Business, Economic Development, and Tourism.

Your Committee finds that the provisions of Act 221, Session Laws of Hawaii 2001, have made Hawaii a more viable location for establishing and expanding high technology business, and that enhancing public awareness of these opportunities would help stimulate growth in our technology sector.

Your Committee has amended this measure by inserting $250,000 as the amount appropriated for each fiscal year of the 2003-2005 fiscal biennium. Your Committee has also amended this measure by removing references to HTTA as the specified private partner in an agreement with the State to allow normal procurement procedures to be followed.

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 of S.B. No. 519, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 519, S.D. 1, and be referred to the Committee on Ways and Means.

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

____________________________

CAROL FUKUNAGA, Chair