Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-First State Legislature

Regular Session of 2001

State of Hawaii

Sir:

Your Committee on Economic Development and Business Concerns, to which was referred H.B. No. 1551 entitled:

begs leave to report as follows:

The purpose of this bill is to appropriate funds to host the thirty-fifth International General Meeting of the Pacific Basin Economic Council in Hawaii in 2002.

Bank of Hawaii, New City Nissan, Hawaii Pacific University, Hilton Hawaiian Village, Hawaii National Bank, and other concerned businesses and citizens testified in support of this measure. The Department of Business, Economic Development, and Tourism supported the intent of this measure.

The Pacific Basin Economic Council (PBEC) is composed of 19 member countries spanning the world. Last year, over 1,000 people attended. As a result, other large venues have chosen to come to Hawaii for their conventions and meetings. Further, PBEC delegates are primarily business leaders with high disposable incomes whose daily expenditures are significantly higher than the typical leisure tourist and conventioneers.

Your Committee has amended this bill by:

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 H.B. No. 1551, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 1551, H.D. 1, and be referred to the Committee on Finance.