STAND. COM. REP. NO.  1822

Honolulu, Hawaii

                , 2007

RE:   S.B. No. 709

      S.D. 2

      H.D. 1

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. 709, S.D. 2, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO ECONOMIC DEVELOPMENT,"

begs leave to report as follows:

     The purpose of this bill is to establish a sound basis for setting policies and goals, and tracking progress toward diversification of Hawaii's economy by requiring the Department of Business, Economic Development, and Tourism (DBEDT) to collect, analyze, and disseminate economic data on Hawaii's growth industries, and appropriating funds for this purpose.

     DBEDT and several concerned individuals testified in support of this bill.

     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. 709, S.D. 2, H.D. 1, and recommends that it pass Third Reading.

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

____________________________

MARCUS R. OSHIRO, Chair