STAND. COM. REP. 328

Honolulu, Hawaii

, 2003

RE: H.B. No. 962

H.D. 1

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Second State Legislature

Regular Session of 2003

State of Hawaii

Sir:

Your Committee on Economic Development and Business Concerns, to which was referred H.B. No. 962 entitled:

"A BILL FOR AN ACT MAKING A MATCHING FUNDS APPROPRIATION TO SUPPORT A PUBLIC-PRIVATE PARTNERSHIP TO MARKET AND PROMOTE INCENTIVES PROVIDED BY ACT 221, SESSION LAWS OF HAWAII 2001, FOR INVESTORS TO INVEST IN HIGH TECHNOLOGY IN HAWAII,"

begs leave to report as follows:

The purpose of this bill is to:

(1) Require the Director of Business, Economic Development, and Tourism to enter into a two-year agreement with the Hawaii Technology Trade Association (HTTA) in a public-private partnership. The purpose of this partnership is to market and promote the incentives offered by Act 221, Session Laws of Hawaii (SLH) 2001, to attract investment in high technology industries in Hawaii and to attract new entrants into high technology industries in Hawaii; and

(2) Appropriate unspecified amounts to market and promote the incentives provided by Act 221, SLH 2001. State funding will be matched by HTTA.

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

Your Committee has amended this bill by:

(1) Appropriating $200,000 for each year of fiscal biennium 2003-2005 from the Hawaii Strategic Development Corporation Revolving Fund to market and promote the incentives provided by Act 221, SLH 2001; and

(2) Making technical, nonsubstantive amendments for purposes of style and clarity.

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. 962, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 962, H.D. 1, and be referred to the Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Economic Development and Business Concerns,

 

____________________________

BRIAN SCHATZ, Chair