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 S.B. No. 2036 entitled:

begs leave to report as follows:

The purpose of this measure is to extend business and technology-based incubation services to foreign technology companies seeking to do business in the State.

Specifically, this bill appropriates an unspecified amount for the High Technology Development Corporation to establish an international business and technology incubator program in Hawaii. The funds are to be expended by the Department of Business, Economic Development, and Tourism.

Upon further consideration, your Committee has amended this bill by making various technical amendments for the purpose 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. 2036, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2036, S.D. 1.