STAND. COM. REP. NO.760

Honolulu, Hawaii

, 2001

RE: S.B. No. 1314

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 S.B. No. 1314, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE ECONOMY,"

begs leave to report as follows:

The purpose of this measure is to establish an economic task force to develop clear goals and an implementation plan to improve Hawaii's economic diversity.

The bill also appropriates funds and authorizes the issuance of general obligation bonds for purposes intended to diversify Hawaii's economy. In particular, the bill:

(1) Establishes an economic task force to establish short-term and long-term goals to diversify Hawaii's economy and establish an implementation plan;

(2) Appropriates funds to:

(A) Establish a program to attract investment from Pacific Rim countries;

(B) Plan, design, and construct physical improvements selected as part of a community based strategic action planning process; and

(C) Market Hawaii products and services; and

(3) Authorizes general obligation bonds to extend the community based economic development loan and grant program to information technology for distressed rural areas.

The Chamber of Commerce of Hawaii and the National Federation of Independent Business testified in support of this bill.

Your Committee finds that the downturn in Hawaii's economy in recent years has been due, in no small part, to our lack of economic diversity. This bill will bring together leaders of industry, government, and education in a collaborative effort to identify areas and strategies required to build a prosperous Hawaii. A working partnership of stakeholders is necessary to focus the State's efforts and identify other potential areas for economic development.

Your Committee has amended this bill by:

(1) Changing the manner in which members of the task force are appointed;

(2) Specifying that the appropriation authorized to expand the community based economic development loan and grant program shall be expended by the Department of Business, Economic Development, and Tourism for that purpose;

(3) Deleting the reference to an appropriation for capital improvement projects; and

(4) Making technical, nonsubstantive changes for the purpose of clarity and style.

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 S.B. No. 1314, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 1314, S.D. 2.

 

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

____________________________

BRIAN T. TANIGUCHI, Chair