HOUSE OF REPRESENTATIVES
                           THE TWENTIETH LEGISLATURE
                            REGULAR SESSION OF 2000

                             COMMITTEE ON FINANCE
                        Rep. Dwight Y. Takamine, Chair
                      Rep. Bertha C. Kawakami, Vice Chair
           Rep. Lei Ahu Isa                  Rep. Iris Ikeda Catalani
           Rep. Willie C. Espero             Rep. Kenny Goodenow
           Rep. Michael P. Kahikina          Rep. Ezra R. Kanoho 
           Rep. Sylvia Luke                  Rep. Bob Nakasone
           Rep. Brian Schatz                 Rep. Nathan Suzuki
           Rep. Brian Y. Yamane              Rep. Galen Fox
           Rep. Barbara Marumoto             Rep. Colleen Meyer
           Rep. Mark Moses

                               NOTICE OF HEARING

                DATE:    Friday, March 31, 2000
                TIME:    5:15 P.M.
                PLACE:   Conference Room 308, State Capitol

                                A G E N D A # 3

SB 2420 SD2 HD1    RELATING TO TECHNOLOGY.
HSCR 1077-00       Allows the high technology development corporation (HTDC) to issue
                special purpose revenue bonds and special facility revenue bonds
                for the development of high technology projects.  Allows qualified
                high technology businesses to sell their unused net operating loss
                carryover to any other taxpayer.  Expands the income tax exclusion
                for royalties and other income from high technology businesses.
                Allows partnership investors the flexibility of allocating the
                high technology business investment tax credit among partners
                without regard to their proportionate interests in their
                partnership investment vehicle.  Makes the high technology
                business investment tax credit and the tax credit for increasing
                research activities refundable to the taxpayer.  Conforms the
                state tax credit for increasing research activities with the
                federal tax credit.  Allows the board of trustees of the
                employees' retirement system (ERS) to invest ten percent of ERS
                funds in qualified high technology businesses.  Appropriates funds
                for education, workforce development, and University of Hawaii
                research and training.  Exempts members of the governor's special
                advisory council for technology development from the senate
                confirmation process and from the need to file a disclosure of
                financial interest with the state ethics commission.  Promotes
                Hawaii, through a coordinated statewide effort, as a place to do
                high technology business.  Giving increased autonomy and authority
                to HTDC over its fiscal and personnel matters.  Establishes the
                Hawaii venture capital technology revolving fund.  Requires HTDC
                to establish programs for seed capital assistance, venture capital
                assistance, and capital access.  Puts the chief executive officer
                of HTDC, the executive director of the natural energy laboratory
                of Hawaii authority, and the president of the Hawaii strategic
                development corporation on each others' boards. (EDB/HED,FIN)

SB 2419 SD1        RELATIGN TO CAPITAL ACCESS PROGRAM.
HSCR 917-00        Establishes a capital access program in the department of
                business, economic development, and tourism. (EDB,FIN)

SB 2473 SD2 HD1    RELATING TO THE SMALL BUSINESS DEFENDER.
HSCR 1043-00       Makes the law enacting the small business regulatory flexibility
                act and the small business defender permanent.  Moves the small
                business regulatory review board and the defender position to the
                department of budget and finance. (EDB/CPC,FIN)

SB 2838 SD1 HD1    RELATING TO THE STATE INTERNET PORTAL.
HSCR 896-00        Establishes the Access Hawaii Committee to provide oversight of
                the portal manager who will be responsible for managing and
                operating the Internet portal on behalf of the State. (EDB,FIN)


                                  -CONTINUED-

 
NOTICE FIN 03/31/00 3
Page 2



SB 2056 SD1 HD1    RELATING TO INDIVIDUAL DEVELOPMENT ACCOUNT CONTRIBUTION TAX
HSCR 870-00        CREDITS.
                Establishes Individual Development Account Contribution tax credit
                equal to fifty per cent of the contribution. (HSH,FIN)

SB 3123 SD2 HD1    RELATING TO POST-SECONDARY EDUCATION.
HSCR 982-00        Establishes a "bridge-to-hope" benefits program for public
                assistance recipients. (HSH/LAB,FIN)

SB 2059 SD1 HD1    RELATING TO WELFARE REFORM.
HSCR 1024-00       Bases cash assistance on 55%, but not less than 43%, of the 2000
                federal poverty level.  Increases cash assistance annually based
                on the corresponding annual cost-of-living adjustment provided by
                the Bureau of Labor Statistics, but no lower than 20% less than
                the annual adjustment.  Provides for reduction adjustments.
                (HSH,FIN)

SB 2856 SD1 HD1    RELATING TO PUBLIC ASSISTANCE.
HSCR 971-00        Removes the provisions regarding the annual update of the actual
                amount of an agreement or lien recorded in the bureau of
                conveyances.  Clarifies that there are two distinct liens for
                which bureau of conveyances recording requirements apply and that
                the department may initiate probate proceedings for both liens.
                (HSH,JHA,FIN)

SB 2850 SD1 HD2    RELATING TO KINSHIP CARE.
HSCR 1031-00       Establishes kinship care by providing guidelines under which a
                person may become a kinship provider. (HSH,JHA,FIN)


                   DECISION MAKING TO FOLLOW IF TIME PERMITS


PERSONS WISHING TO TESTIFY ARE REQUESTED TO SUBMIT 45 COPIES OF THEIR TESTIMONY 24
HOURS PRIOR TO THE HEARING TO:  (1)  ROOM 306, STATE CAPITOL, OR (2)  THE HOUSE SGT.-
AT-ARMS PERSONNEL IN THE TURNAROUND AREA OF THE CAPITOL BASEMENT PARKING LOT.
TESTIMONY MAY BE FAXED TO THE HOUSE SGT.-AT-ARMS OFFICE AT:  586-6501 (OAHU) OR 1-
800-535-3859 (NEIGHBOR ISLANDS).  WHEN FAXING, PLEASE INDICATE TO WHOM THE TESTIMONY
IS BEING SUBMITTED, THE DATE AND TIME OF THE HEARING, AND THE REQUIRED NO. OF COPIES
THAT IS NEEDED FOR SUBMITTAL.

IT IS ALSO REQUESTED THAT THE COPIES BE ON ONE SIDE OF AN 8-1/2" X 11" SHEET.  FOR
FURTHER INFORMATION, PLEASE CALL THE COMMITTEE CLERK AT 586-6200.

IF YOU REQUIRE SPECIAL ASSISTANCE OR AUXILIARY AIDS AND/OR SERVICES TO PARTICIPATE IN
THE PUBLIC HEARING PROCESS OF THE STATE HOUSE (I.E., SIGN LANGUAGE INTERPRETER,
WHEELCHAIR ACCESSIBILITY, OR PARKING DESIGNATED FOR THE DISABLED), PLEASE CONTACT THE
COMMITTEE CLERK 24 HOURS PRIOR TO THE HEARING SO ARRANGEMENTS CAN BE MADE.



                                         ____________________________________
                                         Rep. Dwight Y. Takamine
                                         Chair