STAND. COM. REP. NO. 2378

                                   Honolulu, Hawaii
                                                     , 2000

                                   RE:  S.B. No. 2784
                                        S.D. 1




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

Sir:

     Your Committees on Education and Technology and Economic
Development, to which was referred S.B. No. 2784 entitled: 

     "A BILL FOR AN ACT RELATING TO HIGH TECHNOLOGY DEVELOPMENT
     CORPORATION,"

beg leave to report as follows:

     The purpose of this measure is to allow the High Technology
Development Corporation to issue special purpose revenue bonds
and special facility revenue bonds to develop high technology
projects under chapter 206M, Hawaii Revised Statutes.

     Testimony in support of this measure was received from the
Governor's Special Advisor for High Technology Development, High
Technology Development Corporation (HTDC), and Hawai`i Technology
Trade Association.

     Your Committees find that there is a need for suitable
office space for the growing number of high technology companies
now in Hawaii and that there is not enough space in current
technology incubation centers for companies interested in
locating here.

     Your Committees agree that this measure will provide the
HTDC with the flexibility to offer private developers an
opportunity to develop high technology facilities in Hawaii
through the use of the increased bond authorization provided by
this measure.  This provides both an incentive to attract new

 
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technology companies, and will be a boost for Hawaii's
construction industry as well.

     Your Committees have amended this measure to make technical
amendments for the purposes of style and to accurately reflect
existing statutory language.

     As affirmed by the records of votes of the members of your
Committees on Education and Technology and Economic Development
that are attached to this report, your Committees are in accord
with the intent and purpose of S.B. No. 2784, as amended herein,
and recommend that it pass Second Reading in the form attached
hereto as S.B. No. 2784, S.D. 1, and be referred to the Committee
on Ways and Means.

                                   Respectfully submitted on
                                   behalf of the members of the
                                   Committees on Education and
                                   Technology and Economic
                                   Development,



____________________________       ______________________________
DAVID Y. IGE, Chair                LORRAINE R. INOUYE, Chair

 
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