STAND. COM. REP. NO. 3433

Honolulu, Hawaii

RE: H.B. No. 3261

H.D. 1

S.D. 2

 

 

Honorable Robert Bunda

President of the Senate

Twenty-Third State Legislature

Regular Session of 2006

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred H.B. No. 3261, H.D. 1, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO INGENUITY CORPORATION CHARTER,"

begs leave to report as follows:

The purpose of this measure is to establish the Hawaii Ingenuity Corporation, a private, for profit, non-stock, membership corporation created by the State to:

(1) Hold and use intellectual and other property;

(2) Raise labor and environmental standards;

(3) Promote innovation;

(4) Attract inventors to Hawaii;

(5) Assist inventors with businesses; and

(6) Collectively bargain on behalf of inventors.

Your Committee finds that promoting innovation and supporting inventors and creators of intellectual property will contribute much to Hawaii's economy. However, a majority of inventors lack the resources to protect or develop the full potential of their intellectual property. The establishment of a single body to facilitate the development and use of intellectual property will foster continued innovation as well as benefit the entire State.

Your Committee has amended this measure by:

(1) Changing references to the "American Ingenuity Alliance" to "managing member" where the latter term is intended because the measure makes the American Ingenuity Alliance the initial managing member;

(2) Changing the effective date to July 1, 2050, to promote further discussion; and

(3) Making technical nonsubstantive amendments for clarity, consistency, and style.

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 H.B. No. 3261, H.D. 1, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 3261, H.D. 1, S.D. 2.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

____________________________

BRIAN T. TANIGUCHI, Chair