STAND. COM. REP. NO.  1922

Honolulu, Hawaii

                , 2007

RE:   S.B. No. 323

      S.D. 2

      H.D. 2

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fourth State Legislature

Regular Session of 2007

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred S.B. No. 323, S.D. 2, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO HIGH TECHNOLOGY,"

begs leave to report as follows:

     The purpose of this bill is to improve the ability of the High Technology Development Corporation (HTDC) and the High Technology Innovation Corporation (HTIC) to facilitate growth of Hawaii's high technology industry by:

(1)  Making an appropriation to continue current levels of funding for the Hawaii Small Business Innovation Research Grant and Hawaii Small Business Technology Transfer Grant Programs, which help small high technology businesses to compete more successfully for and obtain federal research and development funding;

 (2) Providing that all HTDC general administrative and fiscal positions must only be funded with general funds and appropriating general funds for these positions; and

(3)  Specifically allowing the HTIC to establish bank accounts in both in-state and out-of-state locations.

     HTDC testified in support of this bill.  The Department of Budget and Finance submitted comments.

     Your Committee has amended this bill by:

(1)  Deleting the purpose section;

(2)  Removing the provision that all HTDC general administrative and fiscal positions only be funded with general funds;

     (3)  Removing all appropriation amounts;

(4)  Changing the effective date to upon approval; and

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

     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. 323, S.D. 2, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 323, S.D. 2, H.D. 2.

Respectfully submitted on behalf of the members of the Committee on Finance,

____________________________

MARCUS R. OSHIRO, Chair