STAND. COM. REP. NO. 891
Honolulu, Hawaii
, 2005
RE: S.B. No. 1702
S.D. 1
Honorable Robert Bunda
President of the Senate
Twenty-Third State Legislature
Regular Session of 2005
State of Hawaii
Sir:
Your Committee on Ways and Means, to which was referred S.B. No. 1702 entitled:
"A BILL FOR AN ACT RELATING TO HIGH TECHNOLOGY,"
begs leave to report as follows:
The purpose of this measure is to establish the High Technology Innovation Corporation, an attached nonprofit subsidiary of the High Technology Development Corporation.
Your Committee finds that establishing a nonprofit High Technology Innovation Corporation will:
(1) Enable the High Technology Development Corporation to seek and receive grants from foundations, endowments, corporations, and governments, both foreign and domestic, that are presently unavailable; and
(2) Provide a more nimble, efficient, and responsive platform to provide services to and assist in the development of the State's technology sector.
Your Committee has amended the measure by making technical, nonsubstantive amendments to correct a grammatical error, delete a reference to a repealed law, and for the purpose of style.
Your Committee believes the measure will promote the State's goal of nurturing and supporting its technology sector while reducing the State's cost for doing so.
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. 1702, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 1702, S.D. 1.
Respectfully submitted on behalf of the members of the Committee on Ways and Means,
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____________________________ BRIAN T. TANIGUCHI, Chair |
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