STAND. COM. REP. NO.  1858

Honolulu, Hawaii

                , 2007

RE:   S.B. No. 896

      S.D. 1

      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. 896, S.D. 1, 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 support the growth of a life- sciences and technology industry in Hawaii by appropriating funds for the High Technology Development Corporation (HTDC), in conjunction with the Department of Business, Economic Development, and Tourism (DBEDT), to enter into:

(1)  A lease for laboratory and office space in a life-sciences research complex in Kakaako; and

(2)  Contracts to support the planning and development of a state-operated high technology incubator and innovation center as part of a life-sciences research complex in Kakaako.

     This bill also requires HTDC to submit annual progress reports to the Legislature on it plans, agreements, expenditures, and other activities to develop a life-sciences and technology industry in Hawaii.

     DBEDT; HTDC; Hawaii Community Development Authority, University of Hawaii (UH) John A. Burns School of Medicine; UH Office of Technology Transfer and Economic Development; Pacific Resource Partnership; Hawaii Science and Technology Council; Phase 3 Properties; KUD International; The Kamehameha Schools; Honolulu Seawater Air Conditioning, LLC; and the American Society of Civil Engineers testified in support of this bill.

     Your Committee has amended this bill by:

(1)  Changing the effective date to July 1, 2020, to encourage further discussion; and

(2)  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. 896, S.D. 1, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 896, S.D. 1, H.D. 2.

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

____________________________

MARCUS R. OSHIRO, Chair