STAND. COM. REP. NO.1539
Honolulu, Hawaii
, 2001
RE: H.B. No. 1662
H.D. 1
S.D. 2
Honorable Robert Bunda
President of the Senate
Twenty-First State Legislature
Regular Session of 2001
State of Hawaii
Sir:
Your Committee on Ways and Means, to which was referred H.B. No. 1662, H.D. 1, S.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO THE HIGH TECHNOLOGY DEVELOPMENT CORPORATION,"
begs leave to report as follows:
The purpose of this measure is to clarify that the Governor's and Legislature's approvals are required prior to the issuance of special facility revenue bonds by the High Technology Development Corporation.
In particular, this bill repeals part III of chapter 206M, Hawaii Revised Statutes (the High Technology Development Corporation law), concerning special facility revenue bonds, enacts replacement provisions, and makes this bill retroactive to April 28, 2000, the day after the enactment of Act 72, Session Laws of Hawaii 2000. In addition, this bill appropriates funds to support high technology marketing and promotion activities, a new position for biotechnology development, and high technology capital improvements.
Your Committee finds that the development of high technology projects and infrastructure on state lands is necessary to promote state economic development, and that future growth of the high technology industry in Hawaii depends to a large extent on the State's ability to fast track technology projects, including those on state lands.
Upon further consideration, your Committee has amended this bill by:
(1) Defining the term "incubator", as used in the appropriation in section 5 of the bill with respect to major cabling and wiring replacements. Your Committee finds that incubators are important vehicles for stimulating economic growth and job creation in industries. The incubators that are referred to in this bill, namely, the Manoa Innovation Center and the Maui Research and Technology Center, are specifically for the incubation of high technology companies and innovations; and
(2) Replacing the sums appropriated in sections 4 and 5 of the bill with the sum of $2 for each of these sections, to facilitate further discussion on the funding necessary to carry out the purposes of this measure.
As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1662, H.D. 1, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 1662, H.D. 1, S.D. 2.
Respectfully submitted on behalf of the members of the Committee on Ways and Means,
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____________________________ BRIAN T. TANIGUCHI, Chair |
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