STAND. COM. REP. NO. 796-04

Honolulu, Hawaii

, 2004

RE: S.B. No. 2392

S.D. 2

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Second State Legislature

Regular Session of 2004

State of Hawaii

Sir:

Your Committee on Economic Development and Business Concerns, to which was referred S.B. No. 2392, S.D. 2, entitled:

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

begs leave to report as follows:

The purpose of this bill is to assist Electricore, Inc., in the planning, design, construction, and operation of facilities for the development and production of unmanned vehicle systems, unmanned aerial vehicles, and the technologies associated with integrated multiuse unmanned systems. This bill authorizes the High Technology Development Corporation to issue up to $30,000,000 in special purpose revenue bonds.

The Honolulu Community College of the University of Hawaii System and Aerovironment Hawaii, Inc./Electricore, Inc., submitted testimony in support of this measure. The Department of the Attorney General offered comments.

As affirmed by the record of votes of the members of your Committee on Economic Development and Business Concerns that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2392, S.D. 2, and recommends that it pass Second Reading and be referred to the Committee on Finance.

 

Respectfully submitted on behalf of the members of the Committee on Economic Development and Business Concerns,

 

____________________________

BRIAN SCHATZ, Chair