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. 422 entitled:

begs leave to report as follows:

The purpose of this bill is to help Hawaii businesses transition to a technology-based economy by appropriating funds for a New Economy Transition Program (Program).

The Chamber of Commerce of Hawaii and Honolulu Japanese Chamber of Commerce submitted testimony in support of this bill.

The Department of Business, Economic Development, and Tourism supported the intent of this bill.

Your Committee finds that the Program will benefit Hawaii businesses by providing greater access to technology programs and sources of funding, increased productivity and efficiency, and the ability to compete both locally and globally.

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. 422 and recommends that it pass Second Reading and be referred to the Committee on Finance.