Honorable Robert Bunda

President of the Senate

Twenty-First State Legislature

Regular Session of 2002

State of Hawaii

Sir:

Your Committees on Agriculture and Economic Development and Technology, to which was referred S.B. No. 2239 entitled:

beg leave to report as follows:

The purpose of this measure is to make an appropriation for the Oceanic Institute.

Testimony in support of this measure was received from the Department of Business, Economic Development, and Tourism (DBEDT), Oceanic Institute, Pacific Harvest, Inc., Hawaii Aquaculture Association, and a private citizen.

This measure is important to marine research in Hawaii to support the State's efforts to diversify Hawaii's economy. The Oceanic Institute is one of the world's premier marine research centers, adding to the economic vitality of the State and supporting the public goal of a diversified economy.

Moneys under this measure would be used to assist the Oceanic Institute to complete the expansion of the Center for Applied Aquaculture and Marine Technology, which would develop sustainable technologies to increase aquatic food production while promoting the responsible use of ocean resources.

Your Committees have amended this measure on the recommendation of the DBEDT by substituting the Department of Agriculture as the appropriate expending agency. In addition, your Committees changed the source of funding from the general treasury to the issuance of general obligation bonds.

As affirmed by the records of votes of the members of your Committees on Agriculture and Economic Development and Technology that are attached to this report, your Committees are in accord with the intent and purpose of S.B. No. 2239, as amended herein, and recommend that it pass Second Reading in the form attached hereto as S.B. No. 2239, S.D. 1, and be referred to the Committee on Ways and Means.