Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Third State Legislature

Regular Session of 2005

State of Hawaii

Sir:

Your Committee on Finance, to which was referred S.B. No. 1702, S.D. 1, H.D. 1, entitled:

begs leave to report as follows:

The purpose of this bill is to encourage the development of high technology in Hawaii by establishing the High Technology Innovation Corporation (HTIC) as a nonprofit entity attached to the High Technology Development Corporation (HTDC) to assist in attracting high technology development opportunities to the state.

HTDC and several concerned individuals supported this bill. The Department of Business, Economic Development, and Tourism supported the intent of this measure. The State Procurement Office offered comments.

Your Committee has amended this bill by:

As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1702, S.D. 1, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 1702, S.D. 1, H.D. 2.