STAND. COM. REP. NO. 2310

                                   Honolulu, Hawaii
                                                     , 2000

                                   RE:  S.B. No. 2999
                                        




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. 2999 entitled: 

     "A BILL FOR AN ACT MAKING AN APPROPRIATION FOR THE HIGH
     TECHNOLOGY DEVELOPMENT CORPORATION,"

beg leave to report as follows:

     The purpose of this measure is to appropriate moneys to
expand science and technology-based economic development in
Hawaii by increasing revenues and quality job opportunities
through the High Technology Development Corporation.

     Testimony in support of the measure was received from the
Department of Business, Economic Development, and Tourism, High
Technology Development Corporation, Orincon Hawaii Inc., Pacific
Business Insights, Inc., Aquatic Farms Ltd., Hawaii Biotechnology
Group, Inc., and one individual.

     Your Committees find that the State has received more than
$27.3 million in small business innovation research matching
federal funds by successfully leveraging $2.3 million in state
funding.  Over $1 billion is currently available to fund new
small business innovation research programs.

     Your Committees agree that the appropriation from this
measure will help to secure continued federal support for
advancing technology-based growth in Hawaii, while allowing
meaningful amounts to be awarded to a larger number of
applicants.

 
a                                                     SB2999
                                   STAND. COM. REP. NO. 2310
                                   Page 2



     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. 2999 and recommend that
it pass Second Reading 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,



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

 
a                                                     SB2999