Creates an economic task force to develop clear goals and an implementation plan to improve Hawaii's economic diversity. Appropriates funds to attract investment from Pacific Rim countries; for planning, design, and construction of a strategic action planning process; and for the marketing of Hawaii's products and services. Authorizes issuance of general obligations bonds to extend the community-based economic development loan and grant program to information technology for rural areas. Repeals sunset clause in Hawaii Small Business Regulatory Flexibility Act. (SB1314 HD1)

A BILL FOR AN ACT

PART I

SECTION 1. The legislature finds that Hawaii's economy has suffered in recent years due in part to the lack of economic diversity. While tourism will always be a top priority in economic policy, the seasonal nature of tourism and its vulnerabilities to international economic instability have shown that if Hawaii is to thrive, economic diversity is vital.

There are several efforts to develop other sectors of Hawaii's economy including high technology, agriculture, retail, electronic commerce, and communications. However, focus and cohesiveness of the State's efforts to diversify Hawaii's economy is required.

The purpose of this Part is to bring together industry, government, and educational leaders to develop clear goals and an implementation plan to diversify Hawaii's economy.

SECTION 2. (a) There is created a joint legislative economic task force. The task force shall:

(b) Within two weeks of the effective date of this Act, members of the task force shall be chosen by the respective chairs of the senate committee on economic development and technology and the house committee on economic development and business. The chairs shall jointly appoint at least one representative from each of the following groups: retail businesses, restaurants, hotels, public unions, private unions, business educators, high technology businesses, marketing and advertising professionals, tourism, environmental organizations, and small business owners. The respective chairs and their appointees shall constitute the task force.

(c) The economic task force shall submit a report of findings and recommendations, including recommended legislation, to the legislature no later than twenty days prior to the convening of the regular session of 2002.

PART II

SECTION 3. There is appropriated out of the general revenues of the State of Hawaii the following sums or so much thereof as may be necessary for fiscal year 2001-2002 for the following purposes:

Total funding FY 2001-2002 $1;

The sums appropriated shall be expended by the department of business, economic development, and tourism for the purposes of this Part.

PART III

SECTION 4. The director of finance is authorized to issue general obligation bonds in the sum of $           or so much thereof as may be necessary and the same sum or so much thereof as may be necessary is appropriated for fiscal year 2001-2002 for the purpose of extending the community-based economic development loan and grant program to information technology for distressed rural areas.

SECTION 5. The sums appropriated in section 5 shall be expended by the department of business, economic development, and tourism for the purposes stated in section 5 of this Act.

SECTION 6. The appropriation made for extending the community-based economic development loan and grant program to information technology for distressed rural areas authorized by this Act shall not lapse at the end of the fiscal year for which the appropriation is made; provided that all moneys from the appropriation unencumbered as of June 30, 2004, shall lapse as of that date.

PART IV

SECTION 7. Act 168, Session Laws of Hawaii 1998, is amended by amending section 5 to read as follows:

"SECTION 5. This Act shall take effect on July 1, 1998[, and shall be repealed as of June 30, 2002]."

PART V

SECTION 8. Statutory material to be repealed is bracketed and stricken.

SECTION 9. This Act shall take effect upon its approval; provided that: