Honorable Robert Bunda

President of the Senate

Twenty-First State Legislature

Regular Session of 2002

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred S.B. No. 2239, S.D. 1, entitled:

begs leave to report as follows:

The purpose of this measure is to authorize the issuance of $10,000,000 in general obligation bonds for capital improvement projects to support the work of the Oceanic Institute.

In particular, this bill provides the funding necessary for the Oceanic Institute to complete the expansion of the Center for Applied Aquaculture and Marine Biotechnology.

Your Committee finds that the Oceanic Institute, which is headquartered in Waimanalo, is one of the world's premier marine research organizations and is Hawaii's only private research institute specifically dedicated to advanced aquaculture and resource issues.

Your Committee further finds that the Oceanic Institute has been instrumental in making aquaculture Hawaii’s fastest growing agricultural segment, adding to the economic vitality of the State, and supporting the public goal of a diversified economy.

Your Committee finds that this bill will enable the people of the State to fully benefit from the Oceanic Institute’s work to develop sustainable technologies to increase aquatic food production, while promoting the responsible use of ocean resources and supporting the State's efforts to diversify Hawaii's economy.

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

1. Replacing the sums appropriated with blank amounts to facilitate further discussion on the funding necessary to carry out the purposes of this measure; and
2. Making technical, nonsubstantive changes for the purposes of clarity and consistency.

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. 2239, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2239, S.D. 2.