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. 1405, S.D. 1, entitled:

begs leave to report as follows:

The purpose of this measure is to authorize the issuance of special purpose revenue bonds to assist Hi-Tech Hawaii, Inc. in planning, designing, and constructing a high technology research and development facility in the State.

Your Committee finds that the proposed facility would be developed by the private sector and no public funds will be expended for the construction, operation, or both, of the facility. Hi-Tech Hawaii, Inc. is presently engaged in the planning and design of a 275,000-square-foot high-technology research and development facility to be sited on commercially designated Department of Hawaiian Home Lands property. Among other considerations, state-of-the-art communications capabilities, round-the-clock operations security, and community access meeting space will also be provided.

Upon further consideration, your Committee has amended this bill to:

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. 1405, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 1405, S.D. 2.